cost OMR240,000. Company's beginning work in process inventory is

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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XYZ Company developed the following data for the
current year: Ending work in process inventory
OMR250,000 ; Direct materials used OMR96,000;
Manufacturing Overhead applied OMR144,000 ; Cost
of goods manufactured OMR350,000 ; Direct labor
cost OMR240,000. Company's beginning work in
process inventory is
Select one:
O a. OMR380,000
O b. OMR145,000
O c. OMR120,000
Q d. None of the answers given
e. OMR580.000
YZCompany uses normal costing. Following are
Transcribed Image Text:ning services - SQU Libraries - SQU Portal Attendand XYZ Company developed the following data for the current year: Ending work in process inventory OMR250,000 ; Direct materials used OMR96,000; Manufacturing Overhead applied OMR144,000 ; Cost of goods manufactured OMR350,000 ; Direct labor cost OMR240,000. Company's beginning work in process inventory is Select one: O a. OMR380,000 O b. OMR145,000 O c. OMR120,000 Q d. None of the answers given e. OMR580.000 YZCompany uses normal costing. Following are
Expert Solution
Step 1

Calculation of Beginning work in Process Inventory

Particulars Amount
Cost of goods manufactured OMR 350,000
Add: Ending work in process inventory OMR 250,000
The total cost of work in process OMR 600,000
Less: Manufacturing cost OMR 144,000
Beginning work in process inventory OMR 456,000
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