Answer ALL questions below. Question 1 Allcan Trading has the following non-current assets at 31 December 2021. Assets Cost (RM) Purchase Date Depreciation (per annum) Office equipment 240,000 1 September 2020 Reducing balance 10% Office equipment 360,000 30 April 2021 Reducing balance 10% On 1 June 2021, the equipment which was purchased in the year 2020 was traded-in with a new equipment costs RM180,000. Assuming financial year ends at 31 December and the computation of depreciation is based on monthly basis. Required: Prepare the following accounts of the office equipment: a) Office equipment account. (2 marks) b) Depreciation account. (2 marks) c) Accumulated depreciation account. (6 marks) d) Disposal account. (5 marks) Question 2 The president of a company has come to you for help. Use the following data to prepare the budgets for the sales/production levels of 10,000, 11,000, and 12,000 units. Show the contribution margin and operating income at each activity level. (15 marks) Sales price RM24 per unit Variable costs: Manufacturing RM12 per unit Administrative RM 3 per unit Selling RM 1 per unit Fixed costs: RM Manufacturing 60,000 Administrative 20,000