NOTE:

(select any business to answer the questions)

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Part A (Company and Cost Details):

1- Write the details of your business and product.

2- Write the details of direct costs as material, labour and expenses required for manufacturing the product with their costs in Omani Rial.

3- Write purchases, opening and closing balances for material, opening and closing balances for work in process and finished goods.

4- Write the details of different overheads under each category (Manufacturing, Office & Admin and Selling & Distribution) with their costs in Omani Rial. There should be at least 3 items under each overhead category.

5- Specify the details of sales and percentage of profit.

Part B (Cost Sheet):

1- Prepare a cost sheet after considering the information given in Part A and determine the profit on your product.