Bidiyah Sugar Factory had the following data: lan. 1,2020 Dec. 31, 2020 Raw materials inventory OMR 80,000 OMR 64,000 Work in process inventory 104,000 116,000 Finished goods inventory 100,000 92,000 During 2020, the company purchased OMR 1,450,000 of materials, had a direct labor cost of OMR 250,000, ane manufacturing overhead was OMR 160,000. The cost of goods sold is: Select one: O a. None of the answers are correct O b. 1,872,000 Oc.1,864,000 O d. 1,684,000 O e. 1,610,000 Clear my choice
Bidiyah Sugar Factory had the following data: lan. 1,2020 Dec. 31, 2020 Raw materials inventory OMR 80,000 OMR 64,000 Work in process inventory 104,000 116,000 Finished goods inventory 100,000 92,000 During 2020, the company purchased OMR 1,450,000 of materials, had a direct labor cost of OMR 250,000, ane manufacturing overhead was OMR 160,000. The cost of goods sold is: Select one: O a. None of the answers are correct O b. 1,872,000 Oc.1,864,000 O d. 1,684,000 O e. 1,610,000 Clear my choice
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 23E: Orinder Company provided the following information for the last calendar year: During the year,...
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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