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A manufacturing company has the following balances at the end of its first year's operations: Sales OMR350,000; actual manufacturing overhead OMR170,000; manufacturing overhead applied OMR114,000;
A manufacturing company has the following balances at the end of its first year's operations: Sales OMR350,000; actual manufacturing overhead OMR170,000; manufacturing overhead applied OMR114,000; unadjusted costs of goods sold OMR 175,000. The costs of goods sold balance includes overhead applied of OMR51,300. Ending Work in process inventory includes overhead applied of OMR34,700. Ending finished goods inventory includes overhead applied of OMR28,000. These balances are not adjusted for the overapplied or underapplied factory overhead. The company closes year-end manufacturing overhead balances proportionally to Work in Process, Finished Goods, and Cost of Goods Sold. How much is the gross profit for the year after disposing the year-end overhead balances? Select one: O a. OMR200,200 b. OMR119,000 c. None of the answers given d. OMR149,800 e. OMR145,300 The manufacturing cost of XYZ Company during October includes prime costs of OMR85,000. The manufacturing overhead is 20% of the month's total manufacturing costs. If beginning work in process was OMR25,000 and ending work in process is OMR35,000, the cost of goods manufactured is: Select one: O a. None of the answers given O b. OMR116,250 c. OMR96,250 d. OMR94,250 O e. OMR92,000
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