XYZ Company had the following information for the year: Direct materials used OMR 110,000 Direct labor incurred (5,000 hours) OMR 150,000 Actual manufacturing overhead incurred OMR 166,000 The Company used a predetermined overhead rate of OMR 30 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of OMR 17,000. What was cost of goods manufactured? O a None of the given answer is correct O b. OMR 393,000 Oc OMR 363,000 Od. OMR 383,000 Oe OMR418,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
mpt=17649928cmid%3875183&page=12
a https:l/alternativet
4 SQUCOFFEE - Goog. B BCOM2911-Busines D Sultan Caboos Univ. G Trading Platform | C
Accounting Club
DEMIC)
E-LEARNING SERVICES- SQU LIBRARIES - SQU PORTAL ATTENDANCE
Time lert 14147
XYZ Company had the following information for the year:
Direct materials used
OMR 110.00d
Direct labor incurred (5,000 hours)
OMR 150,000
Actual manufacturing overhead incurred
OMR 166,000
Fin
The Company used a predetermined overhead rate of OMR 30 per direct labor hour for the year. Assume the only inventory balance is
an ending Work in Process Inventory balance of OMR 17,000. What was cost of goods manufactured?
O a. None of the given answer is correct
O b. OMR 393,000
Oc OMR 363,000
Od. OMR 383,000
O e. OMR418,000
NEXT PAGE
DUS PAGE
ACCT2121
Origin
G"general-chat.
ASUS
Transcribed Image Text:mpt=17649928cmid%3875183&page=12 a https:l/alternativet 4 SQUCOFFEE - Goog. B BCOM2911-Busines D Sultan Caboos Univ. G Trading Platform | C Accounting Club DEMIC) E-LEARNING SERVICES- SQU LIBRARIES - SQU PORTAL ATTENDANCE Time lert 14147 XYZ Company had the following information for the year: Direct materials used OMR 110.00d Direct labor incurred (5,000 hours) OMR 150,000 Actual manufacturing overhead incurred OMR 166,000 Fin The Company used a predetermined overhead rate of OMR 30 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of OMR 17,000. What was cost of goods manufactured? O a. None of the given answer is correct O b. OMR 393,000 Oc OMR 363,000 Od. OMR 383,000 O e. OMR418,000 NEXT PAGE DUS PAGE ACCT2121 Origin G"general-chat. ASUS
mp?attempt=1764992&cmid%3875183&page=D12
الم صيرة بلحه
u io a https://alternativet
4 SQUCOFFEE - Goog. B BCOM2911-Busines..
O Sultan Caboos Univ.
O Trading Platfom
ACADEMIC)
E-LEARNING SERVICES SQU LIBRARIES SQU PORTAL ATTENDANCE
lanagerial Accounting - Spring21
e / My courses / ACCT2121 yasserg Spring21/ Midterm Exam One / Midterm Exam One
stion
The adjustment of overapplied manufacturing overhead cost results in all the following, EXCEPT:
O a. decrease in net operating income.
ed
O b. increase in net operating income.
out of
Oc.
decrease in cost of goods sold
O d. none of the given answers
stion
XYZ Company had the following information for the year:
red
Direct materials used
OMR 110,000
dout of
Direct labor incurred (5,000 hours)
OMR 150,000
Actual manufacturing overhead incurred
OMR 166,000
on
The Company used a predetermined overhead rate of OMR 30 per direct labor hour for the year. Assume the only inventc
an ending Work in Process Inventory balance of OMR 17,000. What was cost of goods manufactured?
fy Free
Origin
G"general-chat .
ACCT2121
Transcribed Image Text:mp?attempt=1764992&cmid%3875183&page=D12 الم صيرة بلحه u io a https://alternativet 4 SQUCOFFEE - Goog. B BCOM2911-Busines.. O Sultan Caboos Univ. O Trading Platfom ACADEMIC) E-LEARNING SERVICES SQU LIBRARIES SQU PORTAL ATTENDANCE lanagerial Accounting - Spring21 e / My courses / ACCT2121 yasserg Spring21/ Midterm Exam One / Midterm Exam One stion The adjustment of overapplied manufacturing overhead cost results in all the following, EXCEPT: O a. decrease in net operating income. ed O b. increase in net operating income. out of Oc. decrease in cost of goods sold O d. none of the given answers stion XYZ Company had the following information for the year: red Direct materials used OMR 110,000 dout of Direct labor incurred (5,000 hours) OMR 150,000 Actual manufacturing overhead incurred OMR 166,000 on The Company used a predetermined overhead rate of OMR 30 per direct labor hour for the year. Assume the only inventc an ending Work in Process Inventory balance of OMR 17,000. What was cost of goods manufactured? fy Free Origin G"general-chat . ACCT2121
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Cost allocation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education