Prime cost is 236000 OMR, and cost of production for the year is 355000 OMR Opening stock of work in progress is 4000, and closing stock of Work in progress is 5000 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Cost of goods manufactured 358500 OMR Calculate cost of goods available for sale Select one: O a. 395000 OMR Ob. None of these O c. 378500 OMR O d. 385500 OMR

Prime cost is 236000 OMR, and cost of production for the year is 355000 OMR Opening stock of work in progress is 4000, and closing stock of Work in progress is 5000 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Cost of goods manufactured 358500 OMR Calculate cost of goods available for sale Select one: O a. 395000 OMR Ob. None of these O c. 378500 OMR O d. 385500 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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According to following information, Number of units produced is 20000. Variable Total Costs Fixed Costs Costs Material used ? in Production 48000 OMR 50000 Labor used in 2500 Production 47500 Production Facilities cost 18000 ? 25000 What will be the estimated cost of 10000 units? Select one: a. OMR 85000 O b. NONE OF THE OPTIONS O c. OMR 73750 O d. OMR 62500
3. ManutacturIng coste. Selected dala concorning last yoar's operatlons of Televans Company áre as follows (000s omitted): Inventorlos Daginning Ending Finlshod goods. Work In procOs... $90 $110 • 30 85 Maturlals. 75 Other data: Materlals usead.... $326 Tolal manulacturing costs clarged to Jobs during tho year (Includes malerials, cdirect labor, and factory overhead applled at a rale of 30% of dlrect labor cost).. Cost of goods avallablo for sale.. Markoting and administrativo exponses. 686 826 25 Flequirad: Compute the following: (1) Cost of materlals purchased. (2) Direct labor cost charged to production. (3) Cost of goods manufactured. (4) Cost of goods sold.X (ICMA adaptod) O50
(b) For 2018, SQU Company had sales of 150,000 units and production of 200,000 units. There was no beginning inventory. Other information for the year included: Direct manufacturing labor Direct materials Fixed administrative expenses 100,000 Fixed manufacturing overhead 187,500 Variable manufacturing overhead 100,000 100,000 200,000 150,000 Variable selling expenses You are required to calculate under both the variable and absorption costing methoda the: inventoriable cost per unit, (i) Ending inventory, and (m) Cost of goods sold.
Complete (format as $1,234.56): Item: Brownies Total quantity bought = 40 Unit cost = $.70 Total cost = Markup % on cost = 40% Total sales = % that will spoil = 10% Selling price per unit =
Product Cost Period (Selling Name of the Cost Variable Cost Fixed Cost Direct Materials Direct Labor Manu-facturing Overhead and Admin) Cost Oppor-tunity Cost Sunk Cost Rental revenue forgone, $30,000 per year X Direct materials cost, $80 per unit X X Rental cost of warehouse, $500 per month X X Rental cost of equipment, $4,000 per month X X Direct labor cost, $60 per unit X X Depreciation of the annex space, $8,000 per year X X X Advertising cost, $50,000 per year X X Supervisor's salary, $1,500 per month X X Electricity for machines, $1.20 per unit X X Shipping cost, $9 per unit X X Return earned on investments, $3,000 per year…
N3. Account
Units in beginning inventory -0-Units produced 8,000Units sold 6,000 Variable costs per unit: Manufacturing $15 Selling and administrative $5 Fixed costs, in total: Manufacturing $24,000 Selling and administrative $16,000 What is the unit product cost under absorption costing?
H1.