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Question 4 a) A factory produces 100 units of commodity. The cost of production is: Direct Materials Direct Wages Direct Expenses Factory overheads Administrative overheads OMR 10,000 5,000 1,000 6,500 3,480 If profit of 25% on sales is be realized what would be the selling price of each unit of the commodity? Prepare the cost sheet. (4 marks) b) You are required to compile a statement showing cost and profit from the information given, showing clearly: 1) Material consumed ii) Prime cost iii) Works cost iv) Cost of production v) Cost of sales vi) Profit and vii) Sales Materials purchased OMR 2,00,000 Wages OMR 1,00,000 Direct expenses OMR 20.000 Opening stock of materials OMR_40.000 Closing stock of materials OMR 60.000 Factory overhead is absorbed at 20% on wages. Administration overhead is 25% on the works cost. Selling and distribution overheads are 20% on the cost of production. Profit is 20% on sales. (4 marks) c) A product is sold for OMR.500.000 so as to show a profit of 33.33% on cost price. Find out the profit on sales in OMR and in %. (2 marks)