Following is accounts records for Rubber and Gloves Sdn Bhd for the year ended 30 June 2022.

	RM
Inventory 1 July 2021:
Direct materials	66,500
Work in process	210,500
Finish goods	185,100
Inventory 30 June 2022:
Direct materials	155,400
Work in process	131,100
Finish goods	75,000
Purchases of direct materials	191,535
Purchases of indirect materials	58,000
Direct labours	184,208
Sales revenue	2,818,622
Sales commissions	32,000
General expense	80,000
Insurance expense	12,000
Advertising expense	241,000
Directory salary expense	250,000
Salary expense	320,000
Utiliti expense	36,000
Rent expense	30,000
Factory machine depreciation expense	9,600

 

Additional information:

Allocation of expenses to factory and main office are as follows:

	Factory	Main Office
Salary expense	60%	40%
Insurance expense	50%	50%
General expense	45%	55%
Utility expense	60%	40%
Depreciation expense	70%	30%
Rent expense	40%	60%

REQUIRED:

1. Prepare Statement of Goods Manufactured for Rubber and Gloves Sdn Bhd for the year ended 30 June 2022.
2. Prepare Statement of Profit or Loss and Other Comprehensive Income for for Rubber and Gloves Sdn Bhd for the year ended 30 June 2022.
3. List TWO (2) product cost and TWO (2) period cost owns by Rubber and Gloves Sdn Bhd.

Answer rating: 100% (QA)

Statement of Goods Manufactured for Rubber and Gloves Sdn Bhd for the year ended 30 June 2022 Particulars Amount RM Beginning inventory Direct materia... View the full answer