a) Prepare a statement of cost production for the year ended 31 December 2020 b) Prepare a statement of comprehensive income for the year ended 31 December 2020

a) Prepare a statement of cost production for the year ended 31 December 2020 b) Prepare a statement of comprehensive income for the year ended 31 December 2020. Transcribed Image Text: Question 4
[Soalan 4]
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
WIP – Raw materials, 1 January 2020
WIP – Factory wages, 1 January 2020
WIP – Factory overhead, 1 January 2020
Raw materials, I January 2020
Raw materials purchases
Transportation of raw materials
Custom duties on raw materials
RM
14,630
18,330
21,660
36,700
251,340
8,340
9,600
3,500
285,430
12,340
48,000
5,700
30,400
Insurance on raw materials
Factory wages
Group accident insurance on factory workers
Depreciation of plant and factory machinery
Oils and lubricants
Factory supervisor’s wages
Factory cleaner’s wages
Factory security’s staff salaries
Factory repairs and maintenance
Factory insurance expense
Sales returns
Finished goods, 1 January 2020
Advertising expense
12,300
18,600
9,560
8,400
23,000
75,380
37,630
Salesmen’s commissions
35,480
Salesmen’s salaries
Selling expenses
Office wages & salaries
Office insurance expense
Depreciation of office furniture
64,570
11,220
73,580
5,870
3,500
22,460
32,760
Discounts allowed
Bad debts expense
Rent expenses
Manager’s salary
180,000
99,000
40,800
Utilities
Depreciation of motor vehicles
General expenses
Pilferage of raw materials
Returns of raw materials
44,000
22,500
1,400
5,600
2,854,200
23,460
Sales
Discount received
Interest on fixed deposits
15,000
…10/ Transcribed Image Text: Additional information:
[Maklumat tambahan:]
On 31 December 2020, the following estimates were made:
(Pada 31 Disember 2020, anggaran-anggaran berikut telah dibuat:]
(i)
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.)
(ii) 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.]
(iii) Utilities – RM4,800 of the utilities is estimated to be for the office use.
[Utiliti – RM4,800 utiliti dianggarkan untuk kegunaan pejabat.)
(iv) 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.
(v)
[Perbelanjaan umum – satu pertiga daripada jumlah tersebut dianggap untuk kegunaan pejabat
sementara selebihnya digunakan untuk kilang.]
(vi) Inventory of raw materials – RM15,420.
[Inventori bahan mentah – RM15,420.]
(vii) WIP, raw materials- RM13,690.
[WIP, bahan mentah – RM13,690.]
(viii) WIP, factory wages – RM16,320.
[WIP, upah kilang – RM16,320.]
9/ 12
(ix) WIP, factory overhead – RM28,850,
[WIP, overhed kilang – RM28,850.]
(x)
Inventory of finished goods was valued at RM95,000.
[Inventori barang siap dinilai pada RM95,000.]

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