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Exercise 3: Calculate cost of production and cost of goods manufactured from the following information: Raw material purchased = OMR 220000 Paid freight charges - OMR 13000 Wages paid to labor = OMR 55000 Directly chargeable expenses - OMR 35000 Factory on cost - 10% of prime cost General and administrative expenses = 6% of factory cost Selling and distribution expenses - 8% of production Opening Stock Closing Stock Raw material OMR 25000 OMR 10000 Work in progress OMR 27500 OMR 14000 Finished goods OMR 30000 OMR 37500