Victor Industries initiated the process of setting standards for the forthcoming period. The standard production cost of one of their products, V50, is determined as OMR 250. Administration, selling and distribution overhead are to be absorbed at a rate of 12% of standard production cost. Determine standard selling price of productV50 if a mark-up of 20% is made.

a.

None of the options

b.

OMR 280

c.

OMR 300

d.

OMR 336

Direct answer without explanation