Reference no: EM132984676
Ka Lai Chia Sdn Bhd is a manufacturer of foldable bicycles. Below is an excerpt of its trial balance as at 30/8/2021
Inventory -WIP 12,000
Inventory - finished goods 19,000
Direct labour 200,000
Depreciation- office equipment 5,980
Purchases return 2,000
Sales 1,250,777
Carriage outwards 2,816
Insurance - fire 24,000
Rental 48,000
Indirect salaries 100,000
Carriage inwards 12,000
Purchases 520,000
Supplies - factory 2,560
Discount allowed 714
Electricity 68,000
Indirect materials 2,000
Inventory - raw materials 78,000
A stocktake at the end of the period yielded the following;
RM
Inventory - raw materials 52,000
Inventory - WIP 20,000
Inventory - finished goods 15,000
Notes
- Electricity should be 90% Factory and 10% office.
- Rental, fire insurance should be split 80% factory and 20% office.
Required
Problem 1: Create a Manufacturing & profit or Loss statement in good style from the above information.