Question 2: Muscat Corany has the following information for the period ended 31 December 2020. Direct material purchases Direct labor OMR 380000 OMR 210000 OMR 28000 Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation - Factory Advertisement expenses Inventories, 1 January 2020: OMR 14500 10% of the prime cost OMR 23000 OMR 6500 OMR 24800 OMR 4500 Direct Material OMR 44300 Work-in-process Finished goods OMR 51200 OMR 77000 Purchase returns of direct materials OMR 3400 Depreciation-administrative OMR 11800 Inventories, 31 December 2020: Material OMR 18000 Work-in process OMR 35000 Finished goods 4000 Units Total Production Units 36000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.
Question 2: Muscat Corany has the following information for the period ended 31 December 2020. Direct material purchases Direct labor OMR 380000 OMR 210000 OMR 28000 Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation - Factory Advertisement expenses Inventories, 1 January 2020: OMR 14500 10% of the prime cost OMR 23000 OMR 6500 OMR 24800 OMR 4500 Direct Material OMR 44300 Work-in-process Finished goods OMR 51200 OMR 77000 Purchase returns of direct materials OMR 3400 Depreciation-administrative OMR 11800 Inventories, 31 December 2020: Material OMR 18000 Work-in process OMR 35000 Finished goods 4000 Units Total Production Units 36000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Question 2:
Muscat Corany
has the following information for the period ended 31 December 2020.
Direct material purchases
OMR 380000
Direct labor
OMR 210000
Factory maintenance
Power and heat-factory
Direct Expenses
Indirect factory labor
Freight In
Depreciation - Factory
Advertisement expenses
Inventories, 1 January 2020:
OMR 28000
OMR 14500
10 % of the prime cost
OMR 23000
OMR 6500
OMR 24800
OMR 4500
Direct Material
OMR 44300
Work-in-process
Finished goods
OMR 51200
OMR 77000
Purchase returns of direct materials
OMR 3400
Depreciation-administrative
Inventories, 31 December 2020:
OMR 11800
Material
OMR 18000
Work-in
process
Finished goods
OMR 35000
4000 Units
Total Production Units
36000 units
Finished goods are valued at the current unit manufacturing cost.
You are required to prepare:
I. Manufacturing Statement
II. Calculate unit production cost.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbae115ee-3d34-4899-a293-bdf4e542b39f%2Fcbca16e8-7765-4203-b546-c302c50a2ac5%2Fp9su1xc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 2:
Muscat Corany
has the following information for the period ended 31 December 2020.
Direct material purchases
OMR 380000
Direct labor
OMR 210000
Factory maintenance
Power and heat-factory
Direct Expenses
Indirect factory labor
Freight In
Depreciation - Factory
Advertisement expenses
Inventories, 1 January 2020:
OMR 28000
OMR 14500
10 % of the prime cost
OMR 23000
OMR 6500
OMR 24800
OMR 4500
Direct Material
OMR 44300
Work-in-process
Finished goods
OMR 51200
OMR 77000
Purchase returns of direct materials
OMR 3400
Depreciation-administrative
Inventories, 31 December 2020:
OMR 11800
Material
OMR 18000
Work-in
process
Finished goods
OMR 35000
4000 Units
Total Production Units
36000 units
Finished goods are valued at the current unit manufacturing cost.
You are required to prepare:
I. Manufacturing Statement
II. Calculate unit production cost.
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