pening stock of work in progress is 22000, and closing stock of Work in progress is 23750 OMR, Cost of goods manufactured 290800 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Calculate cost of Goods Sold a. None of these b. 320800 OMR c. 330800 OMR d. 297050 OMR
Q: pening stock of work in progress is 12000, and closing stock of Work in progress is 13500 OMR,…
A: Cost of Goods Sold can be computed as = Opening stock of finished goods - closing stock of finished…
Q: 9. The balance of work in process inventory account as of December 31, of the current year of…
A: Balance of WIP = P480,000 Selling price = P450,000 Cost of completion = P10,000 Cost to sell =…
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: The conversion cost per equivalent unit is calculated as total conversion cost divided by number of…
Q: . Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: EUP of beginning x = beginning inventory x 40% = 22500 x 40% = 9000 units
Q: The following is data relative to 12/31/21 inventory Item Original Cost Replacement End Inv Per unit…
A: Market value is the middle of the following: Ceiling= NRV Floor= NRV - profit margin Replacement…
Q: According to the information given in the table below, which of the following is Cost of Goods Sold?…
A:
Q: According to the information given in the table below, which of the following is Cost of Goods Sold?…
A: Cost of goods sold means total cost incurred on goods which are to be sold in the business. Cost of…
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: Total conversion cost = beginning cost+ current period cost = 9800+204125 = P213925
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: FIFO is the method whereby the units bought at first are to be sold off first.
Q: Opening stock of Raw material is 280000 OMR, Freight Inwards 3000 OMR, Purchases of Raw material…
A: Prime cost = opening stock of raw materials + purchase of raw materials - purchase returns - closing…
Q: Marin, Inc. values its inventory at the lower-of-LIFO-cost-or-market. The following information is…
A: A corporation must record the cost of inventory at the lower of the original cost or the current…
Q: Opening stock of Raw material is 90000 OMR, Freight Inwards 10000 OMR, Purchases of Raw material…
A: Raw material used is the actual cost of materials that is being used for manufacturing. It includes…
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: EUP of beginning x = beginning inventory x 40% = 22500 x 40% = 9000 units
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: Total conversion cost = beginning cost+ current period cost = 9800+204125 = P213925
Q: BEBE Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: Total conversion cost = beginning cost+ current period cost = 9800+204125 = P213925
Q: 2)Sheridan Company has $21000 of ending finished goods inventory as of December 31, 2013. If…
A: Financial statements are statements which states the business activities performed by the company .…
Q: The inventory of Wildhorse Company on December 31, 2020, consists of the following items. Part…
A: LCNRV method states that inventory should be valued at cost or Net realizable value which ever is…
Q: Opening stock of Raw material is 260000 OMR, Freight Inwards 3000 OMR, custom duty on purchases 2000…
A: Raw material Used = Opening stock of Raw material + Freight Inwards + custom duty on purchases +…
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: Weighted average method: Unit cost or conversion = Total Conversion cost / Conversion units
Q: Calculate Prime cost.
A: In a manufacturing process, there are many activities carried out continuously for reaching the…
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: EUP of beginning units = beginning units x% Completed = 22500 x 40% = 9000
Q: Opening stock of Raw material is 280000 OMR, Freight Inwards 3000 OMR, Purchases of Raw material…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Opening stock of work in progress is 12000, and closing stock of Work in progress is 11750 OMR,…
A: Cost of Goods Sold = Opening stock of finished goods + Cost of goods manufactured - Closing stock of…
Q: Opening stock of Raw material is 280000 OMR, Freight Inwards 3000 OMR, Purchases of Raw material…
A: Prime cost means the cost which is incurred for direct material consumed , direct wages and direct…
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: Weighted average method: Unit cost of conversion cost = Total conversion cost / EUP
Q: be Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: The per-unit cost can be calculated by dividing the total cost by the equivalent unit of production.
Q: Opening stock of Raw material is 60000 OMR, Freight Inwards 10000 OMR, Purchases of Raw material…
A: option C is correct - 750000 OMR
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: Unit conversion cost is the per unit cost of converting raw material into finished goods. Under the…
Q: XYZ Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: EUP of beginning units = beginning units x% Completed = 22500 x 40% = 9000
Q: Time answered Marked out of Inventory at 1st 0.80 Jan 2020 Inventory at 31st Dec 2020 P Flag Raw…
A: Raw material consumed(Rc) = beginning RM + purchase- ending RM = 20000+100000-30000 = 90000
Q: USW Ltd a manufacturing entity manufactures specialized robust cell phone cases for resale. The…
A: The answer is option (1.) [ i.e, R70 000] Refer step 2 for explanation
Q: The inventory of Wildhorse Company on December 31, 2020, consists of the following items. Part…
A: LCM stands for Lower of cost or market method which states that when valuing the inventory of…
Q: The company began its operation in 20X1. At the end of 20X1, the cost of inventory was $160,000…
A: Under the allowance method, an allowance account is credited equally to the difference of cost or…
Q: Chris Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: Total conversion cost = beginning cost+ current period cost = 9800+204125 = P213925
Q: Fiery Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: EUP of beginning units = beginning units x% Completed = 22500 x 40% = 9000
Q: Opening stock of Raw material is 180000 OMR , Freight Inwards 5000 OMR, Purchases of Raw material…
A: Opening stock = 180,000 OMR Freight inwards = 5000 OMR Raw material purchase = 730,000 OMR Purchase…
Q: Bramble Corp. has $24000 of ending finished goods inventory as of December 31, 2019. If beginning…
A: Cost of goods manufactured indicates the cost incurred to produce the finished goods that are ready…
Q: Opening stock of Raw material is 280000 OMR ,Freight Inwards 3000 OMR, custom duty on purchases 2000…
A: Raw material consumed = Opening stock of Raw material + Freight Inwards + custom duty on purchases +…
Q: Opening stock of Raw material is 180000 OMR, Freight Inwards 3000 OMR, Purchases of Raw material…
A: Raw material used in the business means how much cost of goods has been actually consumed in the…
Q: According to the information given in the table below, which of the following is Raw materials…
A: Raw Material consumed = Opening raw material + Purchases During the year +Freight on Purchase -…
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: EUP of beginning units = beginning units x% Completed = 22500 x 40% = 9000
Q: Opening stock of Raw material is 180000 OMR,Freight Inwards 3000 OMR, custom duty on purchases 2000…
A: Raw Material consumed means for how much cost of material has been consumed in the business.
Q: 2)Sheridan Company has $21000 of ending finished goods inventory as of December 31, 2013. If…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: Unit conversion cost using weighted average method = Total Conversion cost / EUP
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: FIFO method: Unit conversion cost = Current period conversion cost / EUP
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: EUP of beginning units = beginning units x% Completed = 22500 x 40% = 9000
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: Total conversion cost = beginning cost+ current period cost = 9800+204125 = P213925
Q: Referring to the situation in P9.2 for Garcia Home Improvement Company, consider the following…
A: Lower-of-cost-or-net realizable value: The lower-of-cost-or-net realizable value (LCNRV) is a…
Q: Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete;…
A: Weighted average method: Unit Conversion cost = Total conversion cost / EUP
Q: Norton Company purchased 1,000 widgets and has 200 widgets in its ending inventory at a cost of $91…
A: Inventory: It refers to the items held by an organization which were in various forms like raw…
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- Opening stock of work in progress is 12000, and closing stock of Work in progress is 11750 OMR, Opening stock of finished goods is 12000, and closing stock of finished goods is 13000 OMR, Cost of goods manufactured 286000 OMR Calculate cost of Goods Sold None of these O b. 285000 OMR 299250 OMR C. O d. 398250 OMROpening stock of work in progress is 12000, and closing stock of Work in progress is 11750 OMR, Opening stock of finished goods is 12000, and closing stock of finished goods is 13000 OMR, Cost of goods manufactured 286000 OMR Calculate cost of Goods Sold a. 285000 OMR b. 299250 OMR c. 398250 OMR d. None of thesePrime cost is 236000 OMR, and cost of production for the year is 298420 OMR 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 14000 OMR, Cost of goods manufactured 958000 OMR Calculate cost of Goods Sold Select one: a. 969600 OMR b. 964000 OMR c. 999000 OMR d. None of these
- May Company has ending finished goods inventory of P40,000.00, beginning finished goods inventory P55,000.00 and cost of goods manufactured of P120,000.00. What is the cost of goods sold of May Company?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 OMRMay Company has ending finished goods inventory of P40,000.00, beginning finished goods inventory P55,000.00 and cost of goods manufactured of P120,000.00. What is the cost of goods sold of May Company? P 105,000.00 P 135,000.00 P 140,000.00 P 120,000.00
- Opening stock of Raw material is 20000 OMR, Prime cost is 86000 OMR, and Factory overheads are 10 % of prime cost, Cost of production 94600 OMR, Opening stock of work in progress is 20000, and closing stock of Work in progress is 13750 OMR, Cost of goods manufactured 290800 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Calculate cost of Goods Sold Select one: a. 297050 OMR b. 320800 OMR c. 330800 OMR d. None of theseOpening 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 theseening 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 15000 OMR . Calculate Prime cost. Select one: a. 850,000 OMR b. 870,000 OMR c. None of these d. 860,000 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 OMROpening 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 OMROpening 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 .