Direct Material OMR 41700 Work-in-process OMR 50000 Finished goods OMR 75000 Purchase returns of direct materials OMR 7400 Depreciation—administrative OMR 13800 Inventories, 31 December 2020: Material OMR 19000 Work-in process OMR 32000 Finished goods 3000 Units Total Production Units 35000 units Finished goods are valued at the current unit manu
Question 2:
ABC Company has the following information for the period ended 31 December 2020.
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Direct material purchased OMR 360000 |
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Direct labor OMR 200000 |
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Factory maintenance OMR 29000 |
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Power and heat—factory OMR 18500 |
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Direct Expenses 15 % of the direct labor cost |
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Indirect factory labor OMR 21000 |
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Freight In OMR 7000 |
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Advertisement expenses OMR 8500 |
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Inventories, 1 January 2020: Direct Material OMR 41700 Work-in-process OMR 50000 Finished goods OMR 75000 |
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Purchase returns of direct materials OMR 7400 |
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Depreciation—administrative OMR 13800 |
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Inventories, 31 December 2020: Material OMR 19000 Work-in process OMR 32000 Finished goods 3000 Units |
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Total Production Units 35000 units |
Finished goods are valued at the current unit manufacturing cost.
You are required to prepare:
I. Manufacturing Statement
II. Calculate unit production cost.
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