Question 1 a) The following details have been obtained from the cost records of ABC Ltd. Particulars OMR Stock of raw materials on 1.12.2019 75.000 Stock of raw materials on 31.12.2015 91.300 Direct Was 52 500 Indirect wages Sales 211.000 Work in progress 1 12 2019 Work-in-progress 31.12.2019 35.000 Purchases of raw materials Factory rentrates and power Depreciation of plant and machinery 1 500 Expenses on purchases Carriage outwards 2.500 Advertising Onlicerent and taxes 2.500 Travellers wages and commission Stock of finished goods (1.12.2019) Sick of finished pods (31.12.2019 31.000 Prepare a Cost sheet and ascertain (1) Cost of raw materials used (ii) Prime cost (iii) Gross Factory cost (iv) Factory cost(v) Cost of Production(vi) Cost of goods sold (vii) Cost of sales and (viii) Profit. (4 marks) b) The following data relate to the manufacture of product during the month of April 2019. Raw materials purchased OMR 48.000 Sale of raw material scrap OMR 8.000 Direct wares JOMR 24,000 Machine hours worked 1000 Machine hour rate JOMR 2 Nee-productive wages OMR 2.000 Administrative overheads of works cost Selling Overheads OMR.675 per unit Units produced and sold 3.000 Selling price per unit OMR 40 Prepare a Cost sheet and ascertain i Cost of raw materials used (ii) Prime cost(111) Factory overheads(iv)Factory cost(v)Cost of Production(vi) Cost of sales and (vii) Profit and (viii)Sales. (4 marks) c) A factory requires 2000 units of certain material for a year. Cost of carrying one unit of this material is OMR I per annum and it is estimated that the expenses of placing an order and receiving would be OMR 10. Calculate (i) Economic Order Quantity and (ii) Number of orders per year. (2 marks) Question 2 a) You are required to compute (i) Economic ordering quantity and (ii) Frequency of the orders in terms of days, from the data given below: Consumption of Material per annum OMR 8000 Ordering costs per order OMR 25 Storage and carrying cost per annum 10% of inventory value. (4 marks) b) The following information is available in respect of component D20: Maximum stock level 42,000 units Budgeted consumption : Maximum 7500 units per month Minimum 4000 units per month Estimated delivery period: Maximum 4 months Minimum 2 months You are required to calculate: i. Re-order level i. Re-order quantity (4 marks) c) Two components X and Y are used as follows: Normal usage - 600 units per week each Maximum usage - 900 units per week each Minimum usage - 300 units per week each Reorder quantity: X 4,800 units Y 7,200 units Reorder Period: X 4 to 6 weeks Y 2 to 4 weeks. Calculate for each component: (1) Maximum level (ii) Average stock level. (2 marks)