Quiz rThe Information bellow has taken from Al Rshad companyWages paid to labour: OMR. 70,000at ofPurchases raw material OMR 21000010Purchase Return: OMR10000estionFinish aFactory on cost 10% of prime costTime leOpening stock (OMR) Closing stock (OMR)Raw materials50000Work in progress4000040,000The cost of good manufactured isSelect one;O a. OMR 368000O b. OMR 320000O c. OMR 370000O d. None of the optionshp

Cost of goods manufactured = Opening WIP + Raw materials used + Direct Labor + Factory Overheads -…

The Information bellow has taken from Al Rshad company Wages paid to labour: OMR. 70,000 Purchases raw material OMR 210000 Purchase Return: OMR10000 Factory on cost - 10% of prime cost Opening stock (OMR) Closing stock (OMR) Raw materials 50000 Work in progress 40000 40,000 The cost of good manufactured is Select one; O a. OMR 368000 O b. OMR 320000 O c. OMR 370000 O d. None of the options

The Information bellow has taken from Al Rshad company Wages paid to labour: OMR. 70,000 Purchases raw material OMR 210000 Purchase Return: OMR10000 Factory on cost - 10% of prime cost Opening stock (OMR) Closing stock (OMR) Raw materials 50000 Work in progress 40000 40,000 The cost of good manufactured is Select one; O a. OMR 368000 O b. OMR 320000 O c. OMR 370000 O d. None of the options

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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1. The prime cost for company XYZ was $20,000, while the conversion cost was $25,000. Assume that direct labor cost is three times the direct materials cost and that the manufacturing overhead cost was two times the direct materials cost. Calculate the direct labor cost ($)? a. 30,000 b. 10,000 c. 15,000 d. 5,000 e. 45,000
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According to the information given in the table below, which of the following is Cost of Production? Raw materials consumed 184000 Wages 56000 Factory overhead 37 % of prime cost Interest expense 9500 Taxes 3300 Select one: a. 339300 b. 341500 c. 336000 d. 328800
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Factory rent of £20,000 and supervisor costs of £10,000 are to be apportioned to production cost centres (Assembly and Finishing). Using the information below state an appropriate amount in total to be apportioned to the Assembly department. Assembly Finishing Number of staff 60 40 Cost of machinery (£) 50,000 150,000 2.000 Floor area occupied (m2) 3,000 O A. £15,000 O B. £18,000 O C. £20,000 O D. £7,500
O e. $2,636 Company XYZ uses machine hours to allocate its manufacturing overhead. The company estimates that total machine hours to be operated next year are 190,000 hours. The estimated variable overhead is $9 per hour and the estimated fixed overhead costs are $152,000. Calculate the predetermined overhead rate. Select one: O a. $10.80 O b. $9.80 O c. $0.10 O d. $0.80 O e. None of the answers given Finish attempt . ge OADUa Prisc F9 F6 F7 F3 F4 F2 23 24 8 6 3
I need help problem
Assume the following information appears in the standard cost card for a company that makes only one product: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 5 pounds $ 11.00 per pound $ 55.00 Direct labor 2 hours $ 17.00 per hour $ 34.00 Variable manufacturing overhead 2 hours $ 3.80 per hour $ 7.60 During the most recent period, the following additional information was available: 20,000 pounds of material was purchased at a cost of $10.50 per pound. All of the material that was purchased was used to produce 3,900 units. 8,000 direct labor-hours were recorded at a total cost of $132,000. The actual variable overhead cost incurred during the period was $25,000. Assuming the company uses direct labor-hours to compute its predetermined overhead rate, what is the variable overhead efficiency variance?
Subject - Acounting
The prime cost for company XYZ was $20,000, while the conversion cost was $25,000. Assume that direct labor cost is three times the direct materials cost and that the manufacturing overhead cost was two times the direct materials cost. Calculate the direct materials cost ($). O a. 45,000 O b. 15,000 Oc. 5,000 O d. 10,000 O e. 30,000 Al-Nahdha company is preparing its cash budget for the first half of the year 2022. The company records shows that it has $20,000 in the cash at the start of the period. Cash collections from customers for the period are budgeted at $56,000. Purchases of inventory as budgeted will cost cash payment during the period of $50,000. The Company intends to keep its cash balance at the end of the period at $10,000. Other operating expenses for this period are budgeted at $30,000, which includes $4,000 depreciation and any cash expenses are paid in the month incurred. How much borrowing will the company need in the Finis
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