Reference no: EM132707768
Question - The following information is taken from the December 31st, 2019, adjusted trial balance and other records of FHHA Sdn. Bhd.
RM
Advertising expense 19,125
Depreciation expense-Office equipment 8,750
Depreciation expense-Selling equipment 10,000
Depreciation expense-Factory equipment 32,500
Factory supervision 122,500
Factory supplies used 15,750
Factory utilities 36,250
Inventories
Raw materials, December 31st, 2018 177,500
Raw materials, December 31st, 2019 168,125
Goods in process, December 31, 2018 15,875
Goods in process, December 31st, 2019 14,000
Finished goods, December 31st, 2018 164,375
Finished goods, December 31st, 2019 129,000
Direct labor 650,750
Indirect labor 60,000
Miscellaneous production cost 8,500
Office salaries expense 100,875
Raw materials purchases 872,500
Rent expense-Office space 21,125
Rent expense-Selling space 25,750
Rent expense-Factory building 79,750
Maintenance expense-Factory equipment 27,875
Sales 3,275,000
Sales salaries expense 286,250
Office equipment 250,000
Selling equipment 120,000
Factory equipment 310,000
Bank 17,000
Account Receivable 60,000
Account Payable 111,000
Capital 280,000
Drawings 173,000
Required -
(a) Compute the cost of goods manufactured for FHHA Sdn. Bhd.
(b) Prepare Statement of Profit and Loss for the year ended 31st December 2019.
(c) Prepare Statement of Financial Position as at 31st December 2019.