XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year: Sales revenue ÖMR390,000; Adjusted gross profit OMR175,000; Selling and admin expenses OMR145,000 ; Överapplied 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. OMR75,000 O b. OMR50,000 O c. OMR65,000 d. None of the answers given O e. OMR55,000

XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year: Sales revenue ÖMR390,000; Adjusted gross profit OMR175,000; Selling and admin expenses OMR145,000 ; Överapplied 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. OMR75,000 O b. OMR50,000 O c. OMR65,000 d. None of the answers given O e. OMR55,000

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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A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense 154 2,560 2,230 330 51 24 $. 15 16 $92,160 $11,150 The tegross margin for the month under absorption costing is: Multiple Chotce $62.440 S15.610, K Prev 4: of 10 Next > ere to search
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