Q1 Al Maha Engineering Company is listed in Muscat Securities Market The total Capital Invested in a company is 20 Million in which loan from Bank was 5 Million For the year 2019 company has manufactured and Sold 1,000 Laptop sets The following are the particulars regarding the laptop sold and manufactured by them Materials in the Stock were OMR 30,000 and they purchased additional material of OMR 50,000 and paid for Carriage 4,300 Wages amounting to OMR 12,500 has been incurred They have spent the following expenses on Gas and Water for Factory OMR 10,000 for Office OMR 4,200, Rent and Insurance for Factory OMR 5,450, for Office OMR 7,150, Total of Managers salary amounting to 25,000 which belongs to 1 4 th for Factory manager and 3 4 th to Office manager Depreciation was calculated on diminishing balance method for the machineries in the office and factory and the value of depreciation for the Office was OMR 1,000 and Factory was OMR 2,400 Supervisor was Paid salary of OMR 800 Once the goods were manufacturing all the finished products were kept in a warehouse for which company has spent OMR 9,000 for its rent There was Opening balance of finished goods of 10,000 and Closing Balance of Finished goods were 8,500 Work in process Opening 18,000, Work in process closing 12,000 One fourth of the warehouse was given for rent and the rent received by the company was OMR 2467 Total laptops manufactured has been sold at OMR 2450,000 and in order to make a sales Company has spent on Advertisement OMR 12,500, Sales man expenses OMR 5,700, Show room cleaning expenses and Insurance were OMR 1,550 and OMR 180 and Sales Managers Salary of OMR 13,000 Free transportation was given to Customers and the company has spent OMR 27,000 for transporting the goods to different areas In the Year end Company has paid Dividends to shareholders for OMR 51,288 and Paid Interest on the Bank Loan of OMR 11,555 You are required to prepare a Cost Sheet from relevant information provided in Al Maha Engineering Company (6 Marks) Al Maha Engineering Company was expecting to earn a profit of 20 on Cost of Production You are required to identify from the cost sheet whether the company has earned the profit as per their expectations or not If not find out the difference in profit which the company has earned and the company has expected (1 Marks) Q2 The new productive undertaking purchased from time to time quantities of commodities used in production of one of its products, the following details are available regarding the stock of materials and its movement during the three Month period from October, November and December There was no Opening stock for the month of October Purchases done on 2 October 200 units 12 per unit, 8 October 150 units 14 per unit, 17 October 225 units 13 per unit 25 October 300 units 12 per unit and Issues were made on 3 rd October 125 units, 15 October 200 units and 30 October 150 units Stock on 1 st November 150 units OMR 22 per unit On November 4, Purchased 320 units OMR 30 November 12, purchased 215 units OMR 35, November 15, purchased 200 units OMR 40, November 28, purchased 200 units OMR 47, November 5, issued 225 Units, November 14, issued 190 units, November 20, issued 200 units, November 25, issued 250 units, November 30, Issued 90 units Stock on 1 st December 130 units OMR 47 per unit and Purchases done on 5 December 200 units 52 per unit, 9 December 150 units 54 per unit, 17 December 225 units 53 per unit 26 December 300 units 49 per unit and Issues were made on 7 th December 225 units, 10 December 200 units and 19 December 150 units You are required to prepare stock register using Weighted Average Method for the Period of November (6 Marks) You are required to write the highest and lowest issue price with dates and find out the difference in both the prices (1 Mark) Q3 Sama Garment Industry workers produce cloths The three basic processes of garment production are cutting, sewing and pressing According to the Labor department there are 10 sewing operators, 5 cutting operators and 8 pressing operators the Standard rate per hour for operators is OMR 25, Normal rate per hour is OMR 30, Normal rate per unit is OMR 35, Working hours per day are 7 hours, Standard Output per hour is 120 units Five cutting workers Moneera, Maha, Sawsan, Khamis and Sara were engaged in the work and receives earnings by using Merrick Differential Piece Rate System The Output is as follows Moneera 895 units, Maha 520 units, Sawsan 800 units, Khamis 1020 units and Sara 1140 units You are required to calculate the earnings of all the five workers of cutting operators and also identify which of the worker is getting the highest earnings among all (5 1 6 Marks) Please Answer the given Questions

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Q1. Al Maha Engineering Company is listed in Muscat Securities Market. The total Capital Invested in a company is 20 Million in which loan from

Q1. Al Maha Engineering Company is listed in Muscat Securities Market. The total Capital Invested in a company is 20 Million in which loan from Bank was 5 Million. For the year 2019 company has manufactured and Sold 1,000 Laptop sets. The following are the particulars regarding the laptop sold and manufactured by them. Materials in the Stock were OMR 30,000 and they purchased additional material of OMR 50,000 and paid for Carriage 4,300. Wages amounting to OMR 12,500 has been incurred. They have spent the following expenses on Gas and Water for Factory OMR 10,000; for Office OMR 4,200, Rent and Insurance for Factory OMR 5,450, for Office OMR 7,150, Total of Managers salary amounting to 25,000 which belongs to 1/4^th for Factory manager and 3/4^th to Office manager. Depreciation was calculated on diminishing balance method for the machineries in the office and factory and the value of depreciation for the Office was OMR 1,000 and Factory was OMR 2,400. Supervisor was Paid salary of OMR 800.

Once the goods were manufacturing all the finished products were kept in a warehouse for which company has spent OMR 9,000 for its rent. There was Opening balance of finished goods of 10,000 and Closing Balance of Finished goods were 8,500. Work in process Opening 18,000, Work in process closing 12,000. One fourth of the warehouse was given for rent and the rent received by the company was OMR 2467.

Total laptops manufactured has been sold at OMR 2450,000 and in order to make a sales Company has spent on Advertisement OMR 12,500, Sales man expenses OMR 5,700, Show room cleaning expenses and Insurance were OMR 1,550 and OMR 180 and Sales Managers Salary of OMR 13,000. Free transportation was given to Customers and the company has spent OMR 27,000 for transporting the goods to different areas. In the Year end Company has paid Dividends to shareholders for OMR 51,288 and Paid Interest on the Bank Loan of OMR 11,555.

You are required to prepare a Cost Sheet from relevant information provided in Al Maha Engineering Company (6 Marks)
Al Maha Engineering Company was expecting to earn a profit of 20% on Cost of Production. You are required to identify from the cost sheet whether the company has earned the profit as per their expectations or not. If not find out the difference in profit which the company has earned and the company has expected (1 Marks)

Q2. The new productive undertaking purchased from time-to-time quantities of commodities used in production of one of its products, the following details are available regarding the stock of materials and its movement during the three-Month period from October, November and December.

There was no Opening stock for the month of October. Purchases done on 2 October 200 units @ 12 per unit, 8 October 150 units @14 per unit, 17 October 225 units @13 per unit 25 October 300 units @ 12 per unit and Issues were made on 3^rd October 125 units, 15 October 200 units and 30 October 150 units.

Stock on 1^st November 150 units @OMR 22 per unit On November 4, Purchased 320 units @OMR 30 November 12, purchased 215 units @OMR 35, November 15, purchased 200 units @ OMR 40, November 28, purchased 200 units @OMR 47, November 5, issued 225 Units, November 14, issued 190 units, November 20, issued 200 units, November 25, issued 250 units, November 30, Issued 90 units.

Stock on 1^st December 130 units @ OMR 47 per unit and Purchases done on 5 December 200 units @ 52 per unit, 9 December 150 units @54 per unit, 17 December 225 units @ 53 per unit 26 December 300 units @ 49 per unit and Issues were made on 7^th December 225 units, 10 December 200 units and 19 December 150 units.

You are required to prepare stock register using Weighted Average Method for the Period of November. (6 Marks)
You are required to write the highest and lowest issue price with dates and find out the difference in both the prices. (1 Mark)

Q3. Sama Garment Industry workers produce cloths. The three basic processes of garment production are cutting, sewing and pressing. According to the Labor department there are 10 sewing operators, 5 cutting operators and 8 pressing operators. the Standard rate per hour for operators is OMR 25, Normal rate per hour is OMR 30, Normal rate per unit is OMR 35, Working hours per day are 7 hours, Standard Output per hour is 120 units. Five cutting workers Moneera, Maha, Sawsan, Khamis and Sara were engaged in the work and receives earnings by using Merrick Differential Piece Rate System. The Output is as follows Moneera 895 units, Maha 520 units, Sawsan 800 units, Khamis 1020 units and Sara 1140 units. You are required to calculate the earnings of all the five workers of cutting operators and also identify which of the worker is getting the highest earnings among all. (5+1= 6 Marks)

Please Answer the given Questions