Time left 1:56:42XYZ 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 thecurrent month.Work InProcessFinished GoodsCost of Goods SoldDirect materialsOMR 3,440OMR 8,450 OMR61,880Direct laborOMR 6,160OMR 16,250OMR119,000Manufacturingoverhead appliedOMR 3,300OMR 6,050 OMR45,650Manufacturing overhead for the month was overapplied 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 overheadapplied during the month in those accounts.The cost of goods sold for June aftenallocation of any underapplied or overapplied manufacturing overhead forthe month is (rounded to nearest OMR): ,160OMR 16,250OMR119,000Manufacturingoverhead appliedOMR 3,300OMR 6,050 OMR45,650Manufacturing overhead for the month was overapplied 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 overheadapplied during the month in those accounts.The cost of goods sold for June after allocation of any underapplied or overapplied manufacturing overhead forthe month is (rounded to nearest OMR):O a. OMR 220,720O b. OMR 232,293O c. OMR 231,676O d. OMR 220,084O e. None of the given answer is correctsolut..pptxCh3 cost flow PPT.pptx

Total manufacturing overhead applied = 3300 + 6050 + 45650 = 55000 Manufacturing overhead…

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. Work In Process Finished Goods Cost of Goods Sold Direct materials OMR 3,440 OMR 8,450 OMR 61,880 Direct labor OMR 6,160 OMR 16,250OMR 119,000 Manufacturing overhead applied OMR 3,300 OMR 6,050 OMR 45,650 Manufacturing overhead for the month was overapplied 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);

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. Work In Process Finished Goods Cost of Goods Sold Direct materials OMR 3,440 OMR 8,450 OMR 61,880 Direct labor OMR 6,160 OMR 16,250OMR 119,000 Manufacturing overhead applied OMR 3,300 OMR 6,050 OMR 45,650 Manufacturing overhead for the month was overapplied 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);

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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