B. Followings are the account records for Yan Min Factory Sdn Bhd for the year ended 31 December 2021. RM Inventory 1 Jan 2021: Raw materials 125,400 Work In Process 131,100 Finished Goods 123,260 Purchases of direct raw materials 191,535 Purchases of indirect raw materials 58,000 Direct labour 184,208 Salaries expenses – Administration office 133,419 Rent expenses 15,200 Utilities expenses – Administration office 14,420 Depreciation expenses – Machine (Factory) 10,200 Depreciation expenses – Machine (Office) 5,200 Sales revenue 818,622 Fossil fuel expenses - Factory 8,120 Additional information: 1. 3/4 of the rent expenses is for factory while the remaining balance is allocated to administration office. 2. Inventories as at 31 Disember 2021 is as follows: Raw materials : RM120,800 Work in process : RM124,600 Finished goods : RM128,840 REQUIRED: 1. Prepare Statement of Goods Manufactured for Yan Min Factory Sdn Bhd for the year ended 31 December 2021. 2. Prepare Statement of Profit or Loss and Other Comprehensive Income for Yan Min Factory Sdn Bhd for the year ended 31 December 2021.
B. Followings are the account records for Yan Min Factory Sdn Bhd for the year ended 31 December 2021.
RM
Inventory 1 Jan 2021:
Raw materials 125,400
Work In Process 131,100
Finished Goods 123,260
Purchases of direct raw materials 191,535
Purchases of indirect raw materials 58,000
Direct labour 184,208
Salaries expenses – Administration office 133,419
Rent expenses 15,200
Utilities expenses – Administration office 14,420
Depreciation expenses – Machine (Office) 5,200
Sales revenue 818,622
Fossil fuel expenses - Factory 8,120
Additional information:
1. 3/4 of the rent expenses is for factory while the remaining balance is allocated to administration office.
2. Inventories as at 31 Disember 2021 is as follows:
Raw materials : RM120,800
Work in process : RM124,600
Finished goods : RM128,840
REQUIRED:
1. Prepare Statement of Goods Manufactured for Yan Min Factory Sdn Bhd for the year ended 31 December 2021.
2. Prepare Statement of Profit or Loss and Other Comprehensive Income for Yan Min Factory Sdn Bhd for the year ended 31 December 2021.
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