Opening stock of Raw material is 280000 OMR, Freight Inwards 3000 OMR, Purchases of Raw material 930000 OMR,Purchase returns is 1000 OMR and Closing stock of Raw material is 38000 OMR, Direct Wages is 175,000 OMR direct Expenses is 5000 OMF Calculate Prime cost. Select one: O a. 1,064,000 OMR O b. 1,069,000 OMR O c. 1,094,000 OMR O d. 1,354,000 OMR

Opening stock of Raw material is 280000 OMR, Freight Inwards 3000 OMR, Purchases of Raw material 930000 OMR,Purchase returns is 1000 OMR and Closing stock of Raw material is 38000 OMR, Direct Wages is 175,000 OMR direct Expenses is 5000 OMF Calculate Prime cost. Select one: O a. 1,064,000 OMR O b. 1,069,000 OMR O c. 1,094,000 OMR O d. 1,354,000 OMR

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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Opening stock of Raw material is 260000 OMR, Freight Inwards 3000 OMR, custom duty on purchases 2000 OMR, Purchases of Raw material 900000 OMR, Purchase returns is 2000 OMR and Closing stock of Raw material is 8000 OMR, Direct Wages is 175,000 OMR direct Expenses is 5000 OMR Calculate Raw material Used. Select one: a. 1,064,000 OMR b. 1,069,000 OMR c. 1,094,000 OMR d. 1,155,000 OMR
Opening stock of Raw material is 90000 OMR, Freight Inwards 10000 OMR, Purchases of Raw material 60000 OMR, Purchase returns is 2500 OMR and Closing stock of Raw material is 3580 OMR, Direct Wages is 175,000 OMR direct Expenses is 5000 OMR. Calculate Direct Raw Material Used. O a. None of these 160,000 OMR 153,920 OMR 170,000 OMR
Opening stock of Raw material is 190000 OMR, Freight Inwards 5000 OMR, custom duty on purchases 5000 OMR, Purchases of Raw material 600000 OMR, Purchase returns is 2500 OMR and Closing stock of Raw material is 3580 OMR, Direct Wages is 175,000 OMR direct Expenses is 5000 OMR . Calculate Prime cost .
Opening stock of Raw material is 60000 OMR, Freight Inwards 10000 OMR, Purchases of Raw material 500000 OMR, Purchase returns is 2000 OMR and Closing stock of Raw material is 8000 OMR, Direct Wages is 175,000 OMR direct Expenses is 15000 OMR . Calculate Prime cost. a. None of these b. 760,000 OMR c. 750,000 OMR d. 770,000 OMR
Opening stock of Raw material is 180000 OMR, Freight Inwards 3000 OMR, Purchases of Raw material 730000 OMR,Purchase returns is 10000 OMR and Closing stock of Raw material is 38000 OMR, Direct Wages is 175,000 OMR direct Expenses is 5000 OMR Calculate Raw material Used. a. 964,000 OMR b. 1,094,000 OMR c. 1,069,000 OMR d. 865,000 OMR
Opening stock of Raw material is 160000 OMR, Freight Inwards 10000 OMR, Purchases of Raw material 500000 OMR, Purchase returns is 2000 OMR and Closing stock of Raw material is 8000 OMR, Direct Wages is 175,000 OMR direct Expenses is 5000 OMR . Calculate Direct Raw Material Used. a. 670,000 OMR b. 660,000 OMR c. 760,000 OMR d. None of these
Opening stock of Raw material is 280000 OMR ,Freight Inwards 3000 OMR, custom duty on purchases 2000 OMR, Purchases of Raw material 930000 OMR, Purchase returns is 1000 OMR and Closing stock of Raw material is 28000 OMR, Calculate Raw material consumed Select one: a. 1,059,000 OMR b. 984,000 OMR c. 1,186,000 OMR d. 750,000 OMR
6.Arko Manufacturing Co. purchased 10,500 lbs. of materials XY at P2 per lb. and incurred freight cost of P1,050. A cash discount of 2% is granted on payments within ten days. Freight in is treated as additional cost of materials purchased. What unit cost must be entered on the stock card for material XY assuming that the allowance method is used in accounting for discounts? P2.06 P1.96 P2.00 P2.058
ABC Company purchased 10,500 pounds of material A at P2.00 per pound and incurred freight cost of P1,050 . A cash discount of 2% is granted on payments within ten * (10) days .Freight in is treated as additional cost of materials purchased . What unit cost must be entered in the stock card of Material A assuming that the allowance method is used in accounting for discounts ? d . P2.058 a . P2.10 b . P1.96 . P2.00 e. None of the above ; answer is
Bernice Company purchased 30,00 lbs. of materials AB at $5 per lb. and incurred freight cost of $5,000. A cash discount of 5% is granted on payments within ten days. Freight in is treated as additional cost of materials purchased. What unit cost must be entered on the stock card for material AB assuming that the allowance method is used in accounting for discounts?
Opening stock of work in progress is 12000, and closing stock of Work in progress is 13500 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 16000 OMR, Cost of goods manufactured 958000 OMR Calculate cost of Goods Sold a. 999000 OMR b. None of these c. 969600 OMR d. 962000 OMR
1. Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit RM Credit RM Inventory of raw materials 1 Jan 2020 21,000 Inventory of finished goods 1 Jan 2020 38,900 Work in progress 1 Jan 2020 13,500 Wages (direct RM180,000, factory indirect RM145,000) 325,000 Royalties 7,000 Carriage inwards (on raw materials) 3,500 Purchases of raw materials 370,000 Productive machinery (cost RM280,000) 230,000 Administration computers (cost RM20,000) 12,000 General factory expenses 31,000 Lighting 7,500 Factory power 13,700 Administration salaries 44,000 Sales representative salaries 30,000 Commission on sales 11,500 Rent 12,000 Insurance 4,200 General administration expenses 13,400 Bank charges 2,300 Discount allowed 4,800 Carriage outwards 5,900 Sales…