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Write by microsoft word plz Instruction: Answer ALL the questions. Each question carries TEN (10) marks. b) The following data relate to the manufacture of
Write by microsoft word plz
Instruction: Answer ALL the questions. Each question carries TEN (10) marks. b) The following data relate to the manufacture of product during the month of April 2019. Question 1 a) The following details have been obtained from the cost records of ABC Ltd. Raw materials purchased Sale of raw material scrap Direct wages Machine hours worked Machine hour rate Non-productive wages Administrative overheads Selling Overheads Units produced and sold Selling price per unit OMR 48.000 OMR 8,000 OMR 24,000 4000 OMR 2 OMR 2,000 5% of works cost OMR.0.75 per unit 3,000 OMR 40 Particulars Stock of raw materials on 1.12.2019 Stock of raw materials on 31.12.2019 Direct Wages Indirect wages Sales Work-in-progress 1.12.2019 Work-in-progress 31.12.2019 Purchases of raw materials Factory rent, rates and power Depreciation of plant and machinery Expenses on purchases Carriage outwards Advertising Office rent and taxes Travellers wages and commission Stock of finished goods (1.12.2019) Stock of finished goods (31.12.2019) OMR 75,000 91,500 52,500 2,750 211,000 28,000 35,000 66,000 15,000 3,500 1,500 2,500 3,500 2.500 6,500 54,000 31,000 Prepare a Cost sheet and ascertain (1) Cost of raw materials used (11) Prime cost(111) Factory overheads(iv)Factory cost(v)Cost of Production(vi) Cost of sales and (vii) Profit and (v111)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 1 per annum and it is estimated that the expenses of placing an order and receiving would be OMR 10. Calculate (1) Economic Order Quantity and (ii) Number of orders per year. (2 marks) Prepare a Cost sheet and ascertain (1) Cost of raw materials used (11) Prime cost (111) Gross Factory cost (iv) Factory cost(v) Cost of Production(vi) Cost of goods sold (vii) Cost of sales and (v111) Profit (4 marks)
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