CTSha Sdn. Bhd., a local business involved in the manufacturing of plastic, metal and other moulds for a wide variety of industrial customers, had the following balances extracted from its books on 31 December 2020. [CTSha Sdn. Bhd., perniagaan tempatan yang terlibat dalam pembuatan plastik, logam dan acuan-acuan lain untuk pelbagai jenis pelanggan industri, mempunyai baki-baki berikut yang diekstrak dari bukunya pada 31 Disember 2020.] Name of Account RM WIP - Raw materials, 1 January 2020 14,630 WIP - Factory wages, 1 January 2020 18,330 WIP - Factory overhead, 1 January 2020 21,660 Raw materials, 1 January 2020 36,700 Raw materials purchases 251,340 Transportation of raw materials 8,340 Custom duties on raw materials 9,600 Insurance on raw materials 3,500 Factory wages 285,430 Group accident insurance on factory workers 12,340 Depreciation of plant and factory machinery 48,000 Oils and lubricants 5,700 Factory supervisor's wages 30,400 Factory cleaner’s wages 12,300 Factory security's staff salaries 18,600 Factory repairs and maintenance 9,560 Factory insurance expense 8,400 Sales returns 23,000 Finished goods, 1 January 2020 75,380 Advertising expense 37,630 Salesmen’s commissions 35,480 Salesmen’s salaries 64,570 Selling expenses 11,220 Office wages & salaries 73,580 Office insurance expense 5,870 Depreciation of office furniture 3,500 Discounts allowed 22,460 Bad debts expense 32,760 Rent expenses 180,000 Manager’s salary 99,000 Utilities 40,800 Depreciation of motor vehicles 44,000 General expenses 22,500 Pilferage of raw materials 1,400 Returns of raw materials 5,600 Sales 2,854,200 Discount received 23,460 Interest on fixed deposits 15,000 On 31 December 2020, the following estimates were made: [Pada 31 Disember 2020, anggaran-anggaran berikut telah dibuat:] Rent – two-thirds of the rent is for the factory while the rest is for the office. [Sewa - dua pertiga daripada sewa adalah untuk kilang sementara selebihnya untuk pejabat.] Manager’s salary – one-third is for the factory while the rest is for the office. [Gaji pengurus - satu pertiga adalah untuk kilang sementara selebihnya untuk pejabat.] Utilities – RM4,800 of the utilities is estimated to be for the office use. [Utiliti - RM4,800 utiliti dianggarkan untuk kegunaan pejabat.] Depreciation of motor vehicles – RM36,000 of this considered to be for use by the factor and the rest for the office. [Susut nilai kenderaan bermotor - RM36,000 ini dianggap digunakan oleh faktor tersebut dan selebihnya untuk pejabat.] General expense – one-third of the amount is considered to be for office use while the rest is for use in the factory. [Perbelanjaan umum – satu pertiga daripada jumlah tersebut dianggap untuk kegunaan pejabat sementara selebihnya digunakan untuk kilang.] Inventory of raw materials – RM15,420. [Inventori bahan mentah - RM15,420.] WIP, raw materials – RM13,690. [WIP, bahan mentah - RM13,690.] WIP, factory wages – RM16,320. [WIP, upah kilang - RM16,320.] WIP, factory overhead – RM28,850. [WIP, overhed kilang - RM28,850.] Inventory of finished goods was valued at RM95,000. [Inventori barang siap dinilai pada RM95,000 Prepare statement of cost production for the year ended 31 December 2020

CTSha Sdn. Bhd., a local business involved in the manufacturing of plastic, metal and other moulds for a wide variety of industrial customers, had the following balances extracted from its books on 31 December 2020. [CTSha Sdn. Bhd., perniagaan tempatan yang terlibat dalam pembuatan plastik, logam dan acuan-acuan lain untuk pelbagai jenis pelanggan industri, mempunyai baki-baki berikut yang diekstrak dari bukunya pada 31 Disember 2020.] Name of Account RM WIP - Raw materials, 1 January 2020 14,630 WIP - Factory wages, 1 January 2020 18,330 WIP - Factory overhead, 1 January 2020 21,660 Raw materials, 1 January 2020 36,700 Raw materials purchases 251,340 Transportation of raw materials 8,340 Custom duties on raw materials 9,600 Insurance on raw materials 3,500 Factory wages 285,430 Group accident insurance on factory workers 12,340 Depreciation of plant and factory machinery 48,000 Oils and lubricants 5,700 Factory supervisor's wages 30,400 Factory cleaner’s wages 12,300 Factory security's staff salaries 18,600 Factory repairs and maintenance 9,560 Factory insurance expense 8,400 Sales returns 23,000 Finished goods, 1 January 2020 75,380 Advertising expense 37,630 Salesmen’s commissions 35,480 Salesmen’s salaries 64,570 Selling expenses 11,220 Office wages & salaries 73,580 Office insurance expense 5,870 Depreciation of office furniture 3,500 Discounts allowed 22,460 Bad debts expense 32,760 Rent expenses 180,000 Manager’s salary 99,000 Utilities 40,800 Depreciation of motor vehicles 44,000 General expenses 22,500 Pilferage of raw materials 1,400 Returns of raw materials 5,600 Sales 2,854,200 Discount received 23,460 Interest on fixed deposits 15,000 On 31 December 2020, the following estimates were made: [Pada 31 Disember 2020, anggaran-anggaran berikut telah dibuat:] Rent – two-thirds of the rent is for the factory while the rest is for the office. [Sewa - dua pertiga daripada sewa adalah untuk kilang sementara selebihnya untuk pejabat.] Manager’s salary – one-third is for the factory while the rest is for the office. [Gaji pengurus - satu pertiga adalah untuk kilang sementara selebihnya untuk pejabat.] Utilities – RM4,800 of the utilities is estimated to be for the office use. [Utiliti - RM4,800 utiliti dianggarkan untuk kegunaan pejabat.] Depreciation of motor vehicles – RM36,000 of this considered to be for use by the factor and the rest for the office. [Susut nilai kenderaan bermotor - RM36,000 ini dianggap digunakan oleh faktor tersebut dan selebihnya untuk pejabat.] General expense – one-third of the amount is considered to be for office use while the rest is for use in the factory. [Perbelanjaan umum – satu pertiga daripada jumlah tersebut dianggap untuk kegunaan pejabat sementara selebihnya digunakan untuk kilang.] Inventory of raw materials – RM15,420. [Inventori bahan mentah - RM15,420.] WIP, raw materials – RM13,690. [WIP, bahan mentah - RM13,690.] WIP, factory wages – RM16,320. [WIP, upah kilang - RM16,320.] WIP, factory overhead – RM28,850. [WIP, overhed kilang - RM28,850.] Inventory of finished goods was valued at RM95,000. [Inventori barang siap dinilai pada RM95,000 Prepare statement of cost production 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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[CTSha Sdn. Bhd., perniagaan tempatan yang terlibat dalam pembuatan plastik, logam dan acuan-acuan lain untuk pelbagai jenis pelanggan industri, mempunyai baki-baki berikut yang diekstrak dari bukunya pada 31 Disember 2020.]

Name of Account	RM
WIP - Raw materials, 1 January 2020	14,630
WIP - Factory wages, 1 January 2020	18,330
WIP - Factory overhead, 1 January 2020	21,660
Raw materials, 1 January 2020	36,700
Raw materials purchases	251,340
Transportation of raw materials	8,340
Custom duties on raw materials	9,600
Insurance on raw materials	3,500
Factory wages	285,430
Group accident insurance on factory workers	12,340
Depreciation of plant and factory machinery	48,000
Oils and lubricants	5,700
Factory supervisor's wages	30,400
Factory cleaner’s wages	12,300
Factory security's staff salaries	18,600
Factory repairs and maintenance	9,560
Factory insurance expense	8,400
Sales returns	23,000
Finished goods, 1 January 2020	75,380
Advertising expense	37,630
Salesmen’s commissions	35,480
Salesmen’s salaries	64,570
Selling expenses	11,220
Office wages & salaries	73,580
Office insurance expense	5,870
Depreciation of office furniture	3,500
Discounts allowed	22,460
Bad debts expense	32,760
Rent expenses	180,000
Manager’s salary	99,000
Utilities	40,800
Depreciation of motor vehicles	44,000
General expenses	22,500
Pilferage of raw materials	1,400
Returns of raw materials	5,600
Sales	2,854,200
Discount received	23,460
Interest on fixed deposits	15,000

On 31 December 2020, the following estimates were made:

[Pada 31 Disember 2020, anggaran-anggaran berikut telah dibuat:]

Rent – two-thirds of the rent is for the factory while the rest is for the office.

[Sewa - dua pertiga daripada sewa adalah untuk kilang sementara selebihnya untuk pejabat.]

Manager’s salary – one-third is for the factory while the rest is for the office.

[Gaji pengurus - satu pertiga adalah untuk kilang sementara selebihnya untuk pejabat.]

Utilities – RM4,800 of the utilities is estimated to be for the office use.

[Utiliti - RM4,800 utiliti dianggarkan untuk kegunaan pejabat.]

Depreciation of motor vehicles – RM36,000 of this considered to be for use by the factor and the rest for the office.

[Susut nilai kenderaan bermotor - RM36,000 ini dianggap digunakan oleh faktor tersebut dan selebihnya untuk pejabat.]

General expense – one-third of the amount is considered to be for office use while the rest is for use in the factory.

[Perbelanjaan umum – satu pertiga daripada jumlah tersebut dianggap untuk kegunaan pejabat sementara selebihnya digunakan untuk kilang.]

Inventory of raw materials – RM15,420.

[Inventori bahan mentah - RM15,420.]

WIP, raw materials – RM13,690.

[WIP, bahan mentah - RM13,690.]

WIP, factory wages – RM16,320.

[WIP, upah kilang - RM16,320.]

WIP, factory overhead – RM28,850.

[WIP, overhed kilang - RM28,850.]

Inventory of finished goods was valued at RM95,000.

[Inventori barang siap dinilai pada RM95,000

Prepare statement of cost production for the year ended 31 December 2020

[Sediakan penyata kos pengeluaran bagi tahun berakhir 31 Disember 2020.]

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