Question 6 Perniagaan Kompani manufactured 100,000 units wooden crafts in 2020 and reported the following Sandpaper Materials handling Coolants & lubricants Indirect manufacturing labor Direct manufacturing labor Direct materials, 1 Jan 2020 Finished goods, 1 Jan 2020 Finished goods, 31 Dec 2020 Work-in-process, 1 Jan 2020 Work-in-process, 31 Dec 2020 Administration costs Direct materials: Beginning inventory Purchases RM 32,000 Leasing costs-plant 320,000 Depreciation-equipment 22,400 Property taxes-equipment 275,200 Fire insurance-equipment 2,176,000 Direct material purchases 384,000 Direct materials, 31 Dec 2020 672,000 Sales revenue 1,280,000 Sales commissions The following year 2021, Perniagaan Kompani had the following activities. Ending inventory Direct manufacturing labor 96,000 Sales salaries 64,000 Advertising costs 800,000 Manufacturing overhead Beginning work-in-process inventory Ending work-in-process inventory Beginning finished goods inventory Ending finished goods inventory RM 20,000 61,600 10,400 16,000 12,000 800 4,000 24,000 16,000 RM 384,000 224,000 32,000 16,000 3,136,000 275,200 12,800,000 640,000 576,000 480,000

Question 6 Perniagaan Kompani manufactured 100,000 units wooden crafts in 2020 and reported the following Sandpaper Materials handling Coolants & lubricants Indirect manufacturing labor Direct manufacturing labor Direct materials, 1 Jan 2020 Finished goods, 1 Jan 2020 Finished goods, 31 Dec 2020 Work-in-process, 1 Jan 2020 Work-in-process, 31 Dec 2020 Administration costs Direct materials: Beginning inventory Purchases RM 32,000 Leasing costs-plant 320,000 Depreciation-equipment 22,400 Property taxes-equipment 275,200 Fire insurance-equipment 2,176,000 Direct material purchases 384,000 Direct materials, 31 Dec 2020 672,000 Sales revenue 1,280,000 Sales commissions The following year 2021, Perniagaan Kompani had the following activities. Ending inventory Direct manufacturing labor 96,000 Sales salaries 64,000 Advertising costs 800,000 Manufacturing overhead Beginning work-in-process inventory Ending work-in-process inventory Beginning finished goods inventory Ending finished goods inventory RM 20,000 61,600 10,400 16,000 12,000 800 4,000 24,000 16,000 RM 384,000 224,000 32,000 16,000 3,136,000 275,200 12,800,000 640,000 576,000 480,000

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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