XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year: Sales revenue OMRA70,000; Adjusted gross profit OMR175,000; Selling and admin expenses OMR145,000 ; Overapplied overhead OMR15,000 ; Prime costs OMR155,000; Work in process inventory has increased by OMR10,000; Finished goods inventory has decreased by OMR20,000. How much is the manufacturing overhead costs applied to work in process during the year? Select one: O a. OMR130,000 O b. OMR145,000 O C. None of the answers given O d. OMR135,000 e. OMR155,000
XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year: Sales revenue OMRA70,000; Adjusted gross profit OMR175,000; Selling and admin expenses OMR145,000 ; Overapplied overhead OMR15,000 ; Prime costs OMR155,000; Work in process inventory has increased by OMR10,000; Finished goods inventory has decreased by OMR20,000. How much is the manufacturing overhead costs applied to work in process during the year? Select one: O a. OMR130,000 O b. OMR145,000 O C. None of the answers given O d. OMR135,000 e. OMR155,000
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 1CP
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