XYZ Co. has provided the following data for the month of June. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Finished Work In Process Goods Cost of Goods Sold Direct materials OMR 3,440 OMR 8,450 OMR 61,880 Direct labor OMR 6,160 OMR 16,25OOMR 119,000 Manufacturing overhead applied OMR 3,300 OMR 6,050 OMR 45,000 Manufacturing overhead for the month was underapplied by OMR 7,000. The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis. of the manufacturing overhead applied during the month in those accounts. The cost of goods sold for June after allocation of any underapplied or overapplied manufacturing overhead for the month is (rounded to nearest OMR): O a. OMR 231,676 O b. OMR 220,720 C. OMR 220,084 O d. None of the given answer is correct OMR 232 293

XYZ Co. has provided the following data for the month of June. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Finished Work In Process Goods Cost of Goods Sold Direct materials OMR 3,440 OMR 8,450 OMR 61,880 Direct labor OMR 6,160 OMR 16,25OOMR 119,000 Manufacturing overhead applied OMR 3,300 OMR 6,050 OMR 45,000 Manufacturing overhead for the month was underapplied by OMR 7,000. The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis. of the manufacturing overhead applied during the month in those accounts. The cost of goods sold for June after allocation of any underapplied or overapplied manufacturing overhead for the month is (rounded to nearest OMR): O a. OMR 231,676 O b. OMR 220,720 C. OMR 220,084 O d. None of the given answer is correct OMR 232 293

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 4PA: During March, the following costs were charged to the manufacturing department: $14886 for...

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Similar questions

Aero Aluminum Inc. uses a process cost system. The records for May show the following information: Using the data in P5-9, draft the journal entries to record: 1. The cost of goods received from Rolling during the month. 2. The production costs incurred in Converting during the month. 3. The cost of goods completed and transferred to finished goods during the month.
During March, the following costs were charged to the manufacturing department: $14886 for materials; $14,656 for labor; and $13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,080 equivalent units of material and 31,640 of conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory?
Cost flow relationships The following information is available for the first month of operations of Bahadir Company, a manufacturer of mechanical pencils: Using the information given, determine the following missing amounts: A. Cost of goods sold B. Finished goods inventory at the end of the month C. Direct materials cost D. Direct labor cost E. Work in process inventory at the end of the month
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