The following are the information derived from financial statements of Al Tood Production SAOG. You are required to calculate the value of cost of goods sold, from the below information. The company earns a profit of 25% on cost, Opening stock of raw material is RO 10,000, Direct wages are RO 35,000, Factory overheads 50% of the material available for consumption, Closing stock of finished goods is RO 6,000, Purchases of raw material amounted to RO 40,000, Closing stock of work in progress is RO 2,000, Direct expenses are RO 20,000, Selling & Distribution overheads are 10% of direct wages, Opening stock of finished goods is RO 13,000, Closing stock of raw material is RO 5,000, Office & Administration overheads are RO 18,000 and Opening stock of work in progress is RO 4,000. a. RO 152,000 b. RO 194,375 c. RO 154,000 d. RO 153,000
The following are the information derived from financial statements of Al Tood Production SAOG. You are required to calculate the value of cost of goods sold, from the below information. The company earns a profit of 25% on cost, Opening stock of raw material is RO 10,000, Direct wages are RO 35,000, Factory overheads 50% of the material available for consumption, Closing stock of finished goods is RO 6,000, Purchases of raw material amounted to RO 40,000, Closing stock of work in progress is RO 2,000, Direct expenses are RO 20,000, Selling & Distribution overheads are 10% of direct wages, Opening stock of finished goods is RO 13,000, Closing stock of raw material is RO 5,000, Office & Administration overheads are RO 18,000 and Opening stock of work in progress is RO 4,000. a. RO 152,000 b. RO 194,375 c. RO 154,000 d. RO 153,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following are the information derived from financial statements of Al Tood Production SAOG. You are required to calculate the value of cost of goods sold, from the below information.
The company earns a profit of 25% on cost, Opening stock of raw material is RO 10,000, Direct wages are RO 35,000, Factory overheads 50% of the material available for consumption, Closing stock of finished goods is RO 6,000, Purchases of raw material amounted to RO 40,000, Closing stock of work in progress is RO 2,000, Direct expenses are RO 20,000, Selling & Distribution overheads are 10% of direct wages, Opening stock of finished goods is RO 13,000, Closing stock of raw material is RO 5,000, Office & Administration overheads are RO 18,000 and Opening stock of work in progress is RO 4,000.
a.
RO 152,000
b.
RO 194,375
c.
RO 154,000
d.
RO 153,000
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