Question
Prepare a cost sheet using the information bellow: Please answer briefly 1. Material: The material expenses for Al-Marai Company are as follows: - Raw materials:
1. Material: The material expenses for Al-Marai
Company are as follows: -
Raw materials: OMR 10,000 -Packaging materials:
OMR 2,000 -Other materials: OMR 1,000
2.Labour: The labour expenses for Al-Marai Company are as follows: -Wages: OMR 7,000 -
- Benefits: OMR 1,000 - Overtime: OMR 1,000
- Overhead: The overhead expenses for Al-Marai Company are as follows: - Rent: OMR 3,000 - Utilities: OMR 1,000 -Maintenance: OMR 500 -Other:OMR 500
3.The opening and closing of Al-Marai company's raw material, semi-finished goods and finished goods are as follows:
Raw Material: The company's raw material inventory opened at OMR 5.5 million and closed at OMR 6.5 million.
Semi-Finished Goods: The company's semifinished goods inventory opened at OMR 1.5
million and closed at OMR 2.5 million.
Finished Goods: The company's finished goods inventory opened at OMR 9.5 million and closed at OMR 11.5 million.
Explanation
Financial statements and annual report
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started