Jasina Sdn Bhd (JSB) reports the following information for the year ended 30 November 2021. RM Sales
Question:
Jasina Sdn Bhd (JSB) reports the following information for the year ended 30 November 2021.
RM | |
Sales | 900,000 |
Purchase of direct materials | 140,000 |
Direct labour | 180,000 |
Indirect labour | 20,000 |
Indirect materials | 18,000 |
Depreciation (factory equipment) | 30,000 |
Depreciation (building) | 100,000 |
Marketing expenses | 120,000 |
Insurance | 80,000 |
Utilities | 50,000 |
Additional Information:
i. 70% of the depreciation (building) is for factory and the remaining is for administrative.
ii. 75% of the insurance is for factory and the remaining is for administrative.
iii. 80% of the utilities is for factory and the remaining is for administrative.
iv. The balances of inventories are as follows:
30 November 2020 (RM) | 30 November 2021 (RM) | |
Direct Materials | 20,000 | 28,000 |
Work in process | 35,000 | 40,000 |
Finished goods | 49,000 | 44,000 |
REQUIRED:
(a) | Prepare the Statement of Cost of Goods Manufactured for the year ended 30 November 2021. |
(b) | Prepare the Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 November 2021. |
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello