Direct material purchased is OMR 800 out of which direct material for OMR 400 is sent to the production department. The direct wages and direct expenses are OMR 200 and OMR 100. Factory overheads are 50% of direct labour and administrative overheads are 20% of factory cost. The job is completed and sold for OMR 1,000. The profit/ loss on the job will be a. Loss OMR 40 O b. Profit OMR 40 O c. Profit OMR 70 O d. Loss OMR 30 In process A, the opening stock was 1,000 units which were 60% complete at a cost of OMR 2,000. 4,000 units were introduced during the process. The cost incurred during the process is Material OMR 29,750 and labour OMR 20,500. 4,500 units were completed and 500 units were remained in the process as closing work in progress. The completion for units remained in process is 70% complete for material and 40% for labour. If FIFO method is used for preparation of process account, cost per equivalent unit for material and labour will be: a. Material OMR 7.09, Labour OMR 3 O b. None of these O c. Material OMR 7, Labour OMR 5 O d. Material OMR 7.09, Labour OMR 4.09