3. The following information is taking from Wei Min Enterprise for the year ended 31December 2020:ParticularsRMInventory at 1 January 2020:Raw materialsWork in progressFinished goodsPurchases : raw materialsCarriage on raw materialsDirect labourOffice salaries25,40031,10023,26091,5351,96084,20833,4195,200RentOffice lighting and heatingDepreciation:Works machineryOffice equipmentSalesFactory fuel and power4,42010,2002,300318,6228,120Prepared by: Puan Siti Nor Junita Mohd RadziAdditional information:i. Rent is to be apportioned: factory ¾; office %ii.Inventory at 31 December 2020 was:a. Raw materialsRM28,900b. Work in progressc. Finished goodsRM24,600RM28,840Required: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.

Cost of production: It includes all those cost and overheads which incurred in the production and…

3. The following information is taking from Wei Min Enterprise for the year ended 31 December 2020: Particulars RM Inventory at 1 January 2020: Raw materials 25,400 31,100 23,260 91,535 1,960 Work in progress Finished goods Purchases : raw materials |Carriage on raw materials Direct labour Office salaries Rent Office lighting and heating Depreciation: Works machinery Office equipment Sales Factory fuel and power 84,208 33,419 5,200 4,420 10,200 2,300 318,622 8,120 Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Rent is to be apportioned: factory %; office % ii. Inventory at 31 December 2020 was: a. Raw materials b. Work in progress c. Finished goods RM28,900 RM24,600 RM28,840 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.

3. The following information is taking from Wei Min Enterprise for the year ended 31 December 2020: Particulars RM Inventory at 1 January 2020: Raw materials 25,400 31,100 23,260 91,535 1,960 Work in progress Finished goods Purchases : raw materials |Carriage on raw materials Direct labour Office salaries Rent Office lighting and heating Depreciation: Works machinery Office equipment Sales Factory fuel and power 84,208 33,419 5,200 4,420 10,200 2,300 318,622 8,120 Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Rent is to be apportioned: factory %; office % ii. Inventory at 31 December 2020 was: a. Raw materials b. Work in progress c. Finished goods RM28,900 RM24,600 RM28,840 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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