XYZ Co. has the following information: Inventory at 1st Jan 2020 Inventory at 31st Dec 2020Raw Materials InventoryOMR20,000 OMR30,000Work in Process InventoryOMR18,000 OMR15,000Finished Goods InventoryOMR30,000 OMR20,000 Additional information for the year is as follows: Raw materials purchasesOMR100,000Direct laborOMR75,000Manufacturing overhead appliedOMR85,000Manufacturing overhead ActualOMR80,000Indirect materialsOMR0 Compute the adjusted cost of goods sold.

Name: XYZ Co. has the following information: Inventory at 1st Jan 2020 I
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Description: XYZ Co. has the following information: Inventory at 1st Jan 2020 Inventory at 31st Dec 2020Raw Materials InventoryOMR20,000 OMR30,000Work in Process InventoryOMR18,000 OMR15,000Finished Goods InventoryOMR30,000 OMR20,000 Additional inform

COGS = Beginning Inventory + Purchases During the Period – Ending Inventory = 20,000+100,000-30,000…

Answered: Manufacturing overhead Actual OMR…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6PB: During the year, a company purchased raw materials of $77,321 and incurred direct labor costs of...

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XYZ Co. has the following information:

	Inventory at 1^st Jan 2020		Inventory at 31^st Dec 2020
Raw Materials Inventory	OMR	20,000		OMR	30,000
Work in Process Inventory	OMR	18,000		OMR	15,000
Finished Goods Inventory	OMR	30,000		OMR	20,000

Additional information for the year is as follows:


Raw materials purchases	OMR	100,000
Direct labor	OMR	75,000
Manufacturing overhead applied	OMR	85,000
Manufacturing overhead Actual	OMR	80,000
Indirect materials	OMR	0

Compute the adjusted cost of goods sold.

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