You are given the cost records of POR manufacturing company which manufacture a specialised equipment against customer's order. OMR 15,000 28,000 600 Raw material-Opening Purchase of material 14,000 kgs@ 2 per kg- Carriage on purchase Raw material closing Opening stock of WIP Closing stock of WIP Direct labour cost Depreciation: Factory building 6,000 2,500 2,800 22,000 400 Office building 300 Salary Factory manager Office manager Other factory overheads Other office overheads 1200 1,500 2,600 1,600 4 dx ENG Other office overheads 1,600 Finished goods Opening 5,800 Closing 2,500 Selling and distribution overheads 10% of cost of goods sold Selling price is determined at 12% on sales Units produced 500 units Required: Prepare a statement of cost showing clearly cost incurred at different stages of production and sale. Also calculate profit and sales price per unit 7 Marks Q2. Consider opening work in progress in process 11-5000 units - 35% complete: Units completed in process-11 - and transferred to next process is 5500 units; Closing work in progress - 2800 units 40% complete. Assuming normal loss and abnormal loss as nil calculate: a. b. Input into the process II in units) Equivalent units as per FIFO. ctivate Windows Set