1.Managerial accounting information:

A.Usually prepared for government agencies and shareholders.

B.Consists of data processing for the purposes of planning and forecasting, internally.

C.Requires the use of Malaysian Financial Reporting Standards (MFRS) as main references.

D.Need to be submitted to the authorities such as Securities Commissions and Bursa Malaysia.

2.Which of the following refers to a period costs?

A.Bonus for the employees worked in the factory.

B.Raw material purchased.

C.Insurances expense for the factory.

D.Depreciation expense for the administration office.

3.The goal of managerial accounting is to provide the information that managers need for all of the following EXCEPT:

A.Planning

B.Control

C.Decision making

D.Review fair value

4.Which of the following gives the three types of inventory accounts for a manufacturing business.

A.Finished goods and Work in process

B.Raw materials & Product

C.Finished goods, Work in progress & Raw materials

D.Finished goods, Work in progress, Raw materials & Product.

5.Which of the following items appears only in a manufacturing company's financial statements?

A.Cost of goods sold.

B.Cost of goods manufactured.

C.Goods available for sale.

D.Gross profit.

6.Costs that are incurred as part of the manufacturing process but are not clearly associated with specific units of product or batches of production, including all manufacturing costs other than direct material and direct labor costs, are called:

A.Administrative expenses.

B.Nonmanufacturing costs.

C.Operating expenses.

D.Factory overhead.

Use the following information about Amy Company as follows for questions 7:

RM

Beginning raw materials inventory15,200

Beginning goods in process inventory22,400

Ending raw materials inventory16,600

Ending goods in process inventory28,000

Direct labor42,800

Total factory overhead30,000

Raw material purchases60,000

7.All raw materials used were traceable to specific batches of product. Amy Company's cost of goods manufactured for the year is:

A.RM125,800.

B.RM128,600.

C.RM131,400.

D.RM137,000.

PART B :STRUCTURED QUESTIONS

QUESTION 1

\fNumerous items are missing from each of the following statement of the comprehensive income and cost of goods manufactured statement data for the month of December 2014: All Sin Bad Sedra Sde Bad RM RM Materials inventory, I December 185,000 120,000 Materials Inventory, 31 December 130.000 Materials purchased 170,000 240,000 Cost of direct materials used in production 155,000 Direct labor 220,000 Factory overhead 75,000 70.000 Total manufacturing costs incurred during December 450.000 Total manufacturing costs 575.000 555.000 Work in process inventory, I December 125.000 105.000 Work in process inventory, 31 December 125.000 Cost of goods manufactured 455.000 Finished goods inventory, I December 110.090 75,000 Finished goods inventory, 31 December 115.000 Sales 695 000 750,000 Coat of goods sold 330.0:00 Gross profit Operating expenses 100,000 Net income 340,060 REQUIRED: Determine the amounts of the missing items for each company. (6 Marks) (b) Prepare the Statement of Cost of Goods Manufactured for Sedra Sdn Bhd. (6 Marks) Give THREE (3) differences between managerial and financial accounting.harm I131 Danube: 1919' - . mum 12m: mm 24 mm 3,011] 90,000 1,100,900 1mm mum mm mm mm 150,900 mm mm 23,000 mum 10,900