Question 2: Mirbat Company has the following information for the period ended 31 December 2020. Direct material purchases 380000 OMR Direct labor OMR 210000 Factory maintenance 28000 OMR Power and heat-factory 14500 OMR Direct Expenses prime cost Indirect factory labor 23000 10 % of the OMR Freight In 6500 OMR Depreciation - Factory 24800 OMR Inventories, 1 January 2020: Direct Material OMR 44300 Work-in-process Finished goods OMR 51200 OMR 77000 Purchase returns of direct materials OMR 3400 Inventories, 31 December 2020: Material OMR 18000 Work-in process Finished goods OMR 35000 4000 Units Total Production Units 36000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.
Question 2: Mirbat Company has the following information for the period ended 31 December 2020. Direct material purchases 380000 OMR Direct labor OMR 210000 Factory maintenance 28000 OMR Power and heat-factory 14500 OMR Direct Expenses prime cost Indirect factory labor 23000 10 % of the OMR Freight In 6500 OMR Depreciation - Factory 24800 OMR Inventories, 1 January 2020: Direct Material OMR 44300 Work-in-process Finished goods OMR 51200 OMR 77000 Purchase returns of direct materials OMR 3400 Inventories, 31 December 2020: Material OMR 18000 Work-in process Finished goods OMR 35000 4000 Units Total Production Units 36000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 6MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense...
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