Question 2: ABC Company has the following information for the period ended 31 December 2020. Direct material purchased Direct labor Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation Factory Advertisement expenses Inventories, 1 January 2020: OMR 360000 OMR 200000 OMR 29000 OMR 18500 15% of the direct labor cost OMR 21000 OMR 7000 OMR 22300 OMR 8500 Direct Material OMR 41700 OMR 50000 Work-in-process Finished goods OMR 75000 Purchase returns of direct materials OMR 7400 Depreciationadministrative Inventories, 31 December 2020: OMR 13800 Material OMR 19000 OMR 32000 Work-in process Finished goods Total Production Units 3000 Units 35000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: L Manufacturing Statement IL Calculate unit production cost.

Question 2: ABC Company has the following information for the period ended 31 December 2020. Direct material purchased Direct labor Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation Factory Advertisement expenses Inventories, 1 January 2020: OMR 360000 OMR 200000 OMR 29000 OMR 18500 15% of the direct labor cost OMR 21000 OMR 7000 OMR 22300 OMR 8500 Direct Material OMR 41700 OMR 50000 Work-in-process Finished goods OMR 75000 Purchase returns of direct materials OMR 7400 Depreciationadministrative Inventories, 31 December 2020: OMR 13800 Material OMR 19000 OMR 32000 Work-in process Finished goods Total Production Units 3000 Units 35000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: L Manufacturing Statement IL Calculate unit production cost.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 13PA: Selected information from Skylar Studios shows the following: Prepare journal entries to record the...

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