Costs of manufactured are 958000 OMR, Prime cost is 736000 OMR, and Factory overheads are 12 % of prime cost, Calculate cost of production Select one: O a. None of these O b. 824320 OMR O c. 692350 OMR

Costs of manufactured are 958000 OMR, Prime cost is 736000 OMR, and Factory overheads are 12 % of prime cost, Calculate cost of production Select one: O a. None of these O b. 824320 OMR O c. 692350 OMR

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

Costs of manufactured are 958000 OMR, Prime cost is 736000 OMR, and
Factory overheads are 12 % of prime cost, Calculate cost of production
Select one:
O a. None of these
O b.824320 OMR
O c. 692350 OMR
O d. 891950 OMR
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What type of cost is this? Total Costs Units January $100,4881,057 February $100,488880 If it is a mixed cost, enter a 1 for your answer. If it is a variable cost, enter a 2 for your answer. If it is a fixed cost, enter a 3 for your answer.
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