Please use the information given to answer the question XYZ Co. has provided the following data for the monthof June. There were no beginning inventories;consequently, the direct materials, direct labor, andmanufacturing overhead applied listed below are all forthe current month.Work InProcess Finished GoodsCost of GoodsSoldDirectmaterialsOMR 3,440OMR 8.450 OMR 61,880Direct laborOMR 6,1600MR 16.250 OMR 119,000ManufacturingoverheadappliedOMR 3,300OMR 6,050 OMR 45.000Manufacturing overhead for the month wasunderapplied by OMR 7,000. The company allocates any underapplied or overappliedmanufacturing overhead among work in process,finished goods, and cost of goods sold at the end of themonth on the basis of the manufacturing overheadapplied during the month in those accounts.The cost of goods sold for June after allocation of anyunderapplied or overapplied manufacturing overheadfor the month is (rounded to nearest OMR):O a. OMR 220,720O b. OMR 220,084O c. OMR 231,676d. OMR 232,293e,None of the given answer is correct

Total manufacturing overhead applied =3300 + 6050 + 45000 = 54350

manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts. The cost of goods sold for June after allocation of any underapplied or overapplied manufacturing overhead for the month is (rounded to nearest OMR) : O a. OMR 220,720 O b. OMR 220,084 c. C c. OMR 231,676 O d. OMR 232,293 O e. None of the given answer is correct

manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts. The cost of goods sold for June after allocation of any underapplied or overapplied manufacturing overhead for the month is (rounded to nearest OMR) : O a. OMR 220,720 O b. OMR 220,084 c. C c. OMR 231,676 O d. OMR 232,293 O e. None of the given answer is correct

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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