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2. The following information taken from Jejai Limited: Particulars Debit Credit RM RM Purchase of raw materials Fuel and light Administration salaries Factory wages Carriage outwards Rent and business rates Sales Return inward General office expenses Repairs to plant and machinery Inventory at 1 January 2020: Raw materials 258,000 21,000 17,000 59,000 4,000 21,000 482,000 7,000 9,000 9,000 21,000 14,000 23,000 Work in process Finished goods Sundry accounts payable Capital Freehold premises Plant and machinery Accounts receivable Accumulated provision for depreciation on plant and machinery Cost in hand 37,000 457,000 410,000 80,000 20,000 8,000 TOTAL 11,000 984,000 984,000 Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Inventory in hand at 31 December 2020: a. Raw materials RM25,000 b. Work in process c. Finished goods il. Depreciation of 10% on plant and machinery using the straight-line method i. 80% of fuel and light and 75% of rent and rates to be charged to manufacturing iv. Provision for doubtful debts: 5% of sundry accounts receivable. v. RM4,000 outstanding for fuel and light vi. Rent and business rates paid in advance: RM5,000 vii. Market value of finished goods: RM382,000 RM11,000 RM26,000 Required: a) Prepare statement of cost production for the year ended 31 December 2020.

2. The following information taken from Jejai Limited: Particulars Debit Credit RM RM Purchase of raw materials Fuel and light Administration salaries Factory wages Carriage outwards Rent and business rates Sales Return inward General office expenses Repairs to plant and machinery Inventory at 1 January 2020: Raw materials 258,000 21,000 17,000 59,000 4,000 21,000 482,000 7,000 9,000 9,000 21,000 14,000 23,000 Work in process Finished goods Sundry accounts payable Capital Freehold premises Plant and machinery Accounts receivable Accumulated provision for depreciation on plant and machinery Cost in hand 37,000 457,000 410,000 80,000 20,000 8,000 TOTAL 11,000 984,000 984,000 Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Inventory in hand at 31 December 2020: a. Raw materials RM25,000 b. Work in process c. Finished goods il. Depreciation of 10% on plant and machinery using the straight-line method i. 80% of fuel and light and 75% of rent and rates to be charged to manufacturing iv. Provision for doubtful debts: 5% of sundry accounts receivable. v. RM4,000 outstanding for fuel and light vi. Rent and business rates paid in advance: RM5,000 vii. Market value of finished goods: RM382,000 RM11,000 RM26,000 Required: a) Prepare statement of cost production for the year ended 31 December 2020.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter10: Accounting Systems For Manufacturing Operations
Section: Chapter Questions
Problem 10.3E: Classifying costs as factory overhead Which of the following items are properly classified as part...
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2. The following information taken from Jejai Limited: Particulars Debit Credit RM RM Purchase of raw materials Fuel and light Administration salaries Factory wages Carriage outwards 258,000 21,000 17,000 59,000 4,000 21,000 Rent and business rates Sales Return inward General office expenses Repairs to plant and machinery Inventory at 1 January 2020: Raw materials 482,000 7,000 9,000 9,000 21,000 14,000 23,000 Work in process Finished goods Sundry accounts payable Capital Freehold premises Plant and machinery Accounts receivable Accumulated provision for depreciation on plant and machinery Cost in hand 37,000 457,000 410,000 80,000 20,000 8,000 11,000 984,000 984,000 TOTAL Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Inventory in hand at 31 December 2020: a. Raw materials RM25,000 b. Work in process c. Finished goods ii. Depreciation of 10% on plant and machinery using the straight-line method iii. 80% of fuel and light and 75% of rent and rates to be charged to manufacturing iv. Provision for doubtful debts: 5% of sundry accounts receivable. v. RM4,000 outstanding for fuel and light vi. Rent and business rates paid in advance: RM5,000 vii. Market value of finished goods: RM382,000 RM11,000 RM26,000 Required: a) Prepare statement of cost production for the year ended 31 December 2020. b) Prepare statement of comprehensive income for the year ended 31 December 2020. c) Prepare statement of financial position as at 31 December 2020.
Transcribed Image Text:2. The following information taken from Jejai Limited: Particulars Debit Credit RM RM Purchase of raw materials Fuel and light Administration salaries Factory wages Carriage outwards 258,000 21,000 17,000 59,000 4,000 21,000 Rent and business rates Sales Return inward General office expenses Repairs to plant and machinery Inventory at 1 January 2020: Raw materials 482,000 7,000 9,000 9,000 21,000 14,000 23,000 Work in process Finished goods Sundry accounts payable Capital Freehold premises Plant and machinery Accounts receivable Accumulated provision for depreciation on plant and machinery Cost in hand 37,000 457,000 410,000 80,000 20,000 8,000 11,000 984,000 984,000 TOTAL Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Inventory in hand at 31 December 2020: a. Raw materials RM25,000 b. Work in process c. Finished goods ii. Depreciation of 10% on plant and machinery using the straight-line method iii. 80% of fuel and light and 75% of rent and rates to be charged to manufacturing iv. Provision for doubtful debts: 5% of sundry accounts receivable. v. RM4,000 outstanding for fuel and light vi. Rent and business rates paid in advance: RM5,000 vii. Market value of finished goods: RM382,000 RM11,000 RM26,000 Required: a) Prepare statement of cost production for the year ended 31 December 2020. b) Prepare statement of comprehensive income for the year ended 31 December 2020. c) Prepare statement of financial position as at 31 December 2020.
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