(a) Prepare the manufacturing account of Freshmart Sdn. Bhd. for the year ended 31 December 2020.

(b) Prepare the statement of profit or loss of Freshmart Sdn. Bhd. for the year ended 31 December 2020.

The following trial balance has been extracted from the books of Freshmart Sdn. Bhd., a manufacturer of canned food: Trial balance as at 31 December 2020 Debit Credit RM RM Machinery (at cost) 500,000 Accumulated depreciation - machinery 160,000 Motor vehicles (at cost) 400,000 Accumulated depreciation - motor vehicles 180,000 Inventories as at 1 January 2020: Raw materials 49,000 Work in progress 39,000 Finished goods 40,000 Sales 640,000 Purchases of raw materials 96,000 Direct expenses 55,000 Direct labour 65,000 Return inwards 10,000 Return outwards of raw materials 5,000 Carriage inwards of raw materials 10,000 Salary of factory supervisor 30,000 Salary of management staff 85,000 Office rental 50,000 Advertising 40,000 Utilities 55,000 General administrative expenses 75,000 364,000 ordinary shares 364,000 250,000 8% preference shares 250,000 1,599,000 1,599,000 Additional information: 1. Inventories as at 31 December 2020 were as follows: RM Raw materials 60,000 Work in progress 25,000 Finished goods 80,000 2. Depreciation is to be provided on the machinery and motor vehicles at 15% per annum on cost. 3. Utilities and depreciation of motor vehicles are to be apportioned 2/3 to production department and 1/3 to administrative department