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Please answer all the questions simple 42. Calculate the value of the closing stock from the following according to the Weighted Average method: 1st January

Please answer all the questions simple

42.

Calculate the value of the closing stock from the following according to the Weighted Average method:

1st January 2014: Opening balance: 50 units @ OMR 4

Receipts:

5th January 2014: 100 units @ OMR 5

12th January 2014: 200 units @ OMR 4.500

Issues:

2nd January, 2014: 30 units

18th January, 2014: 150 units

45.

Which of the following journal entry will correctly record the direct labour used for production?

a.

Dr. Work in process A/c & Cr. Payroll A/c

b.

Dr. Payroll A/c & Cr. Bank A/c

c.

Dr. Bank A/c & Cr. Payroll A/c

d.

Dr. Payroll A/c & Cr. Work in process A/c

48.Opening stock of raw materials OMR 4,000, closing stock of raw materials OMR 4,000, raw material purchased OMR 3,000, wages paid to labourers OMR 1300, direct expenses OMR 2,00, Office rent, rates and taxes OMR 5,00, factory power OMR 4,00, factory insurance OMR 1,000, selling overhead OMR 1200. Compute works cost.

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