nat is the Production EC Company?

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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ABC Company has the following records for the period
ended 31 December 2020.
Raw Material purchased
OMR 125000
Purchase returns of raw materials
OMR 5000
Factory maintenance
OMR 3500
Salary of office staff
OMR 2240O
Power and heat-factory
OMR 5000
Insurance expense-factory
OMR 3000
Depreciation-factory building and egiJipment
OMR 6500
Purchase Expenses on raw material
OMR 2000
Insurance expenseOftice
OMR 8000
Inventories, t January 2020: Raw Materiats
OMR 6000
Direct labor
OMR 60000
Direct Expenses
OMR 4000
Inventories, 31 December 2020: Raw Material
OMR 8000
What is the Production Cost (Cost of production) for
ABC Company?
Transcribed Image Text:ABC Company has the following records for the period ended 31 December 2020. Raw Material purchased OMR 125000 Purchase returns of raw materials OMR 5000 Factory maintenance OMR 3500 Salary of office staff OMR 2240O Power and heat-factory OMR 5000 Insurance expense-factory OMR 3000 Depreciation-factory building and egiJipment OMR 6500 Purchase Expenses on raw material OMR 2000 Insurance expenseOftice OMR 8000 Inventories, t January 2020: Raw Materiats OMR 6000 Direct labor OMR 60000 Direct Expenses OMR 4000 Inventories, 31 December 2020: Raw Material OMR 8000 What is the Production Cost (Cost of production) for ABC Company?
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