XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year:Sales revenue OMR410,000; Adjusted gross profit OMR175,000; Selling and admin expenses OMR145,000 ;Overapplied overhead OMR15,000 ; Prime costs OMR155,000; Work in process inventory has increased byOMR10,000 ; Finished goods inventory has decreased by OMR20,000. How much is the manufacturingoverhead costs applied to work in process during the year?Select one:a. None of the answers givenO b. OMR70,000Oc. OMR85,000O d. OMR95,000O e. OMR75,000

The correct option is: d. OMR 95,000 Particulars Amount (OMR) Sales revenue 410,000 Less:…

OMR10,000 ; Finished goods inventory has decreased by OMR20,000. How much iIs the manufacturing overhead costs applied to work in process during the year? Select one: O a. None of the answers given O b. OMR70,000 O c. OMR85,000 O d. OMR95,000 O e. OMR75,000

OMR10,000 ; Finished goods inventory has decreased by OMR20,000. How much iIs the manufacturing overhead costs applied to work in process during the year? Select one: O a. None of the answers given O b. OMR70,000 O c. OMR85,000 O d. OMR95,000 O e. OMR75,000

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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Question

XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year:
Sales revenue OMR410,000; Adjusted gross profit OMR175,000; Selling and admin expenses OMR145,000 ;
Overapplied overhead OMR15,000 ; Prime costs OMR155,000; Work in process inventory has increased by
OMR10,000 ; Finished goods inventory has decreased by OMR20,000. How much is the manufacturing
overhead costs applied to work in process during the year?
Select one:
a. None of the answers given
O b. OMR70,000
Oc. OMR85,000
O d. OMR95,000
O e. OMR75,000

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