The following information is taken from the books of Syarikat Mizi Jaya Sdn Bhd.: Items RM...
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The following information is taken from the books of Syarikat Mizi Jaya Sdn Bhd.: Items RM 15,000 2,500 22,500 65,000 500,000 Direct material on 1/1/2008 Work in progress on 1/1/2008 Finish goods on 1/1/2008 Direct material purchased Sales Additional information: 1. iv. Depreciation Insurance premium Office staff's salary Salesmen's commissions Miscellaneous administration cost Electricity and water expenses Royalty Lorry driver's wages V. vi. vii. Stocks as at 31/12/2008: Direct material Work in progress Finish goods 25,000 1,500 22,000 13,000 65,000 10,000 5,000 3,000 Direct labour used was 35,000 hours at rate RM5.50 per hour. iii. Depreciation of factory's equipment is RM20,000 and the rest is for office equipment. Insurance premium for factory is RM1,000 and the rest is for office. Miscellaneous administration cost for factory is RM45,000 and the rest is for office. Electricity and water expenses for factory is RM8,000 and the rest is for office. Lorry was used to send goods to the customers. RM 5,000 500 8,500 You are required to prepare cost statement to find prime cost, production/factory cost and total cost. The following information is taken from the books of Syarikat Mizi Jaya Sdn Bhd.: Items RM 15,000 2,500 22,500 65,000 500,000 Direct material on 1/1/2008 Work in progress on 1/1/2008 Finish goods on 1/1/2008 Direct material purchased Sales Additional information: 1. iv. Depreciation Insurance premium Office staff's salary Salesmen's commissions Miscellaneous administration cost Electricity and water expenses Royalty Lorry driver's wages V. vi. vii. Stocks as at 31/12/2008: Direct material Work in progress Finish goods 25,000 1,500 22,000 13,000 65,000 10,000 5,000 3,000 Direct labour used was 35,000 hours at rate RM5.50 per hour. iii. Depreciation of factory's equipment is RM20,000 and the rest is for office equipment. Insurance premium for factory is RM1,000 and the rest is for office. Miscellaneous administration cost for factory is RM45,000 and the rest is for office. Electricity and water expenses for factory is RM8,000 and the rest is for office. Lorry was used to send goods to the customers. RM 5,000 500 8,500 You are required to prepare cost statement to find prime cost, production/factory cost and total cost.
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To prepare the cost statement and find the prime cost productionfactory cost and total cost we need to calculate the relevant costs based on the provi... View the full answer
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