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this may help a) The following details have been obtained from the cost records of ABC Ltd. Particulars OMR Stock of raw materials on 1.12.2019

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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 91 500 Direct Wages $2.500 Indirect wages Sales 201.000 Work-in-progress L.12.2019 Work-in-progress 31.12.2019 35.000 Purchases of raw materials Factory rent, rates and power 15.000 Depreciation of plant and machinery 3.500 Expenses on purchases Karriage was 2.300 Advertising Office rent and taxes Travellers wages and commission Stock of finished goods (1.12.2019) 54.000 Stock of finished poods (31.12.2019) Prepare a Cost sheet and ascertain (i) 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 wages OMR 24,000 Machine hours worked 2000 Machine hour rate OMR 2 Non-productive wapes OMR 2.000 Administrative overheads% of works cost Selling Overheads OMR 0.75 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(ii) 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)

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