The bookkeeper of Mark Manufacturing provides you with the following trial balance and information. Trial balance...

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The bookkeeper of Mark Manufacturing provides you with the following trial balance and information. Trial balance as at 31 December 2016 RM 320,000 31,000 22,000 40,000 3,000 Purchases of raw materials Fuel and light Administration salaries Factory wages Carriage outwards for finished goods Rent and business rates Sales Returns inward General office expenses Repairs to plant and machinery Inventory at 1 January 2016: . Raw materials • Work-in-progress • Finished goods Sundry accounts payable Capital Freehold premises Plant and machinery Accounts receivable Accumulated depreciation on plant and machinery Cash in hand 24,000 5.000 8,000 5,000 25,000 13,000 25,000 450,000 90,000 30.000 15,000 1,100,000 RM 450,000 32,000 612,000 12,000 1,106,000 Additional information: i. Depreciation on plant and machinery is 10% - straight-line method. ii. Closing inventories at 31 December 2016. Raw materials Work-in-progress Finished goods RM 30,000 10,000 36,000 i. Allocate 80% of fuel and light and 75% of rent and rates to manufacturing. ii. RM3,000 outstanding for fuel and light. iii. Rent and business rates paid in advance: RM6,000. Required: Prepare the Manufacturing Account and Income Statement for the year ended 31 December 2016. The bookkeeper of Mark Manufacturing provides you with the following trial balance and information. Trial balance as at 31 December 2016 RM 320,000 31,000 22,000 40,000 3,000 Purchases of raw materials Fuel and light Administration salaries Factory wages Carriage outwards for finished goods Rent and business rates Sales Returns inward General office expenses Repairs to plant and machinery Inventory at 1 January 2016: . Raw materials • Work-in-progress • Finished goods Sundry accounts payable Capital Freehold premises Plant and machinery Accounts receivable Accumulated depreciation on plant and machinery Cash in hand 24,000 5.000 8,000 5,000 25,000 13,000 25,000 450,000 90,000 30.000 15,000 1,100,000 RM 450,000 32,000 612,000 12,000 1,106,000 Additional information: i. Depreciation on plant and machinery is 10% - straight-line method. ii. Closing inventories at 31 December 2016. Raw materials Work-in-progress Finished goods RM 30,000 10,000 36,000 i. Allocate 80% of fuel and light and 75% of rent and rates to manufacturing. ii. RM3,000 outstanding for fuel and light. iii. Rent and business rates paid in advance: RM6,000. Required: Prepare the Manufacturing Account and Income Statement for the year ended 31 December 2016.

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