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XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year: Sales revenue ÖMR390,000; Adjusted gross profit OMR175,000; Selling and admin expenses OMR145,000 ; Överapplied overhead OMR15,000; Prime costs OMR155,000; Work in process inventory has increased by OMR10,000; Finished goods inventory has decreased by OMR20,000. How much is the manufacturing overhead costs applied to work in process during the year? Select one: O a. OMR75,000 O b. OMR50,000 O c. OMR65,000 d. None of the answers given O e. OMR55,000

XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year: Sales revenue ÖMR390,000; Adjusted gross profit OMR175,000; Selling and admin expenses OMR145,000 ; Överapplied overhead OMR15,000; Prime costs OMR155,000; Work in process inventory has increased by OMR10,000; Finished goods inventory has decreased by OMR20,000. How much is the manufacturing overhead costs applied to work in process during the year? Select one: O a. OMR75,000 O b. OMR50,000 O c. OMR65,000 d. None of the answers given O e. OMR55,000

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 14E: For each of the following independent situations, calculate the missing values: 1. The Belen plant...
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XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year: Sales revenue ÖMR390,000; Adjusted gross profit OMR175,000; Selling and admin expenses OMR145,000 ; Overapplied overhead OMR15,000; Prime costs OMR155,000; Work in process inventory has increased by OMR10,000 ; Finished goods inventory has decreased by OMR20,000. How much is the manufacturing overhead costs applied to work in process during the year? Select one: O a. OMR75,000 O b. OMR50,000 O c. OMR65,000 O d. None of the answers given O e. OMR55,000 Company XYZ produced and sold 6,000 units. The selling price per unit was OMR10. The variable manufacturing cost per unit was OMR5. The variable selling and administrative expenses per unit was OMR4. The total fixed expenses were OMR2,000. Calculate the total contribution margin. 18
Transcribed Image Text:XYZ Company uses normal costing. Following are various cost and inventory data for the just completed year: Sales revenue ÖMR390,000; Adjusted gross profit OMR175,000; Selling and admin expenses OMR145,000 ; Overapplied overhead OMR15,000; Prime costs OMR155,000; Work in process inventory has increased by OMR10,000 ; Finished goods inventory has decreased by OMR20,000. How much is the manufacturing overhead costs applied to work in process during the year? Select one: O a. OMR75,000 O b. OMR50,000 O c. OMR65,000 O d. None of the answers given O e. OMR55,000 Company XYZ produced and sold 6,000 units. The selling price per unit was OMR10. The variable manufacturing cost per unit was OMR5. The variable selling and administrative expenses per unit was OMR4. The total fixed expenses were OMR2,000. Calculate the total contribution margin. 18
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