Question 2: Muscat Corany has the following information for the period ended 31 December 2020. Direct material purchases Direct labor OMR 380000 OMR 210000 OMR 28000 Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation - Factory Advertisement expenses Inventories, 1 January 2020: OMR 14500 10% of the prime cost OMR 23000 OMR 6500 OMR 24800 OMR 4500 Direct Material OMR 44300 Work-in-process Finished goods OMR 51200 OMR 77000 Purchase returns of direct materials OMR 3400 Depreciation-administrative OMR 11800 Inventories, 31 December 2020: Material OMR 18000 Work-in process OMR 35000 Finished goods 4000 Units Total Production Units 36000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.

Question 2: Muscat Corany has the following information for the period ended 31 December 2020. Direct material purchases Direct labor OMR 380000 OMR 210000 OMR 28000 Factory maintenance Power and heat-factory Direct Expenses Indirect factory labor Freight In Depreciation - Factory Advertisement expenses Inventories, 1 January 2020: OMR 14500 10% of the prime cost OMR 23000 OMR 6500 OMR 24800 OMR 4500 Direct Material OMR 44300 Work-in-process Finished goods OMR 51200 OMR 77000 Purchase returns of direct materials OMR 3400 Depreciation-administrative OMR 11800 Inventories, 31 December 2020: Material OMR 18000 Work-in process OMR 35000 Finished goods 4000 Units Total Production Units 36000 units Finished goods are valued at the current unit manufacturing cost. You are required to prepare: I. Manufacturing Statement II. Calculate unit production cost.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter20: Inventory Management: Economic Order Quantity, Jit, And The Theory Of Constraints

Section: Chapter Questions

Problem 1CE: Thomas Corporation produces heating units. The following values apply for a part used in their...

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