Opening stock of work in progress is 12000, and closing stock of Work in progress is 11750 OMR, Opening stock of finished goods is 12000, and closing stock of finished goods is 13000 OMR, Cost of goods manufactured 286000 OMR Calculate cost of Goods Sold None of these O b. 285000 OMR 299250 OMR C. O d. 398250 OMR

Opening stock of work in progress is 12000, and closing stock of Work in progress is 11750 OMR, Opening stock of finished goods is 12000, and closing stock of finished goods is 13000 OMR, Cost of goods manufactured 286000 OMR Calculate cost of Goods Sold None of these O b. 285000 OMR 299250 OMR C. O d. 398250 OMR

Name: Opening stock of work in progress is 12000, and closing stock of Work
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Description: Opening stock of work in progress is 12000, and closing stock of Work in progress is 11750 OMR, Opening stock of finished goods is 12000, and closing stock of finished goods is 13000 OMR, Cost of goods manufactured 286000 OMR Calculate cost of Goods

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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The following information relates to the only product made by Mario Traders for the year ended 31 July 2022:Opening inventory 0Number of units manufactured 945 000Number of units sold (at R310 per unit) 756 000Direct materials cost per unit R94Direct labour cost per unit R123Variable manufacturing overheads cost per unit R92Variable selling expenses per unit R22Fixed manufacturing overheads cost R18 900 000Fixed selling and administrative expenses R15 750 000 Draft the income statement for the year ended 31 July 2022 using the Marginal Costing method
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Opening stock of Raw material is 180000 OMR,Freight Inwards 3000 OMR, custom duty on purchases 2000 OMR, Purchases of Raw material 930000 OMR, Purchase returns is 1000 OMR and Closing stock of Raw material is 28000 OMR, Calculate Raw material consumed
signment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Calculator Production data show 35,820 units were transferred out of a stage of production and 6,200 units remained in ending WIP inventory that was 100% complete to material and 40% complete to conversion. The unit material cost is $5 for material and $7 for conversion. What is the amount of inventory transferred out and remaining in ending work in process inventory? Transferred out $ 429,840 Ending inventory $ 48,360 Previous Email Instructor Submit Test for Grading All work saved. 5:39 PM 3. 10/2/2020 中ツ

Sheffield Corp!'s accounting records reflect the following inventories: Raw materials inventory Work in process inventory Finished goods inventory Dec. 31, 2021 O $1420000 O $1408000 O $1309000 O $1315000 $200000 276000 270000 Dec. 31, 2022 $101000 294000 258000 During 2022, Sheffield purchased $910000 of raw materials, incurred direct labor costs of $175000, and incurred manufacturing overhead totaling $224000. How much is total manufacturing costs incurred during 2022 for Sheffield?
The following information relates to the only product made by Mario Traders for the year ended 31 July 2022:Opening inventory 0Number of units manufactured 945 000Number of units sold (at R310 per unit) 756 000Direct materials cost per unit R94Direct labour cost per unit R123Variable manufacturing overheads cost per unit R92Variable selling expenses per unit R22Fixed manufacturing overheads cost R18 900 000Fixed selling and administrative expenses R15 750 000 1. Draft the income statement for the year ended 31 July 2022 using the Absorption costing method
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The following is an extract of records of the manufacturing concern ABC Ltd, who has approached you for assistance. Inventory on 1 January 2018: Finished product R12000 WIP R20000 Direct Materials R35000 Inventory on 31 December 2018: Finished product R12000 WIP R20000 Direct Materials R24250 Sales = R310’000 Direct Material purchases = R17’000 Freight on Direct Material = R1250 Direct labour for the year was R29’000 The following overheads were incurred for the period: Rent = R22000 Indirect Labour = R9500 Indirect Materials = R7500 Water and Lights = R8000 Telephone = R5000 A total of 50% of the overheads was used in the production facility. Required: Calculate Costs of goods manufactured R90 000 R88 000 R84 000 R80 000 None of the above
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According to the information given in the table below, which of the following is Cost of Goods Sold? Cost of Production 255600 Opening stock of WIP 43800 Opening stock of FG 24000 Closing stock of WIP 19400 Closing stock of FG 940 units Total production units 5600 Select one: a. 263000 b. 257000 c. 293000 d. 295800
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