Q1 Mr.Fahim furnishes the following data relating to the manufacture of a standard product during the month of April 2020. Raw materials consumed OMR 287000 Direct labour charges Machine hour worked Machine hour rate Administrative overheads 30% on works cost Selling and distribution expenses OMR 0.60 per unit Units Produced 18500 Units Units Sold 16000 at OMR 70.5 per unit OMR 65400 18500 OMR 3.2 You are required to prepare a cost sheet from the above, showing: (a)The cost of production per unit. (b) Profit per unit sold and (c) Profit for the period.

Q1 Mr.Fahim furnishes the following data relating to the manufacture of a standard product during the month of April 2020. Raw materials consumed OMR 287000 Direct labour charges Machine hour worked Machine hour rate Administrative overheads 30% on works cost Selling and distribution expenses OMR 0.60 per unit Units Produced 18500 Units Units Sold 16000 at OMR 70.5 per unit OMR 65400 18500 OMR 3.2 You are required to prepare a cost sheet from the above, showing: (a)The cost of production per unit. (b) Profit per unit sold and (c) Profit for the period.

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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