ACC 1511 MANAGEMENT ACCOUNTING FUNDAMENTALS SEMESTER 1.2017/18 EXTRA EXERCISE The tolong ntomaton extracted trom the records of Happy Toys Company for the year ending June 2017 The company currenty produces and selis a line of chidren's toys Total (RM) Sales 900.000 30,000 14.500 85.000 6,800 2.000 10,000 24,000 8.900 280,000 220.000 65.000 15.000 21 400 Sales commissions Adminstrative executive salaries Adminstrative utilities (variable) Fire insurance on tactory equipment Property taxes on headquarter building Rental of tactory Indirect tabor cost Direct materials purchased Direct materials used Direct labor Deprecaton on the office equipment Depreciation on factory machines a Raw materials balance at July 1,2016 was RM35,000 b. Shpping bls revealed that the company incurs shipping costs of RM110 per unt sold n order to deliver the products to customers c Factory utility bills indicated that the company incurs utility costs of RM5.500 per month plus RM0.50 per unit produced d There were no beginning or ending inventonies of work in process during the year e The company produced 20,000 toys and sold 18,000 units in the year 2016 There were no beginning inventones for the finished goods Required 1 Compute the folowng a Ending balance of direct materials at June 30, 2017 b Total Vanable cost c. Total Fixed cos d Manutactuing overhead e Penod cost 2 Prepare a schedule for cost ot goods manufactured (COGM) and cost ot goods sold COGS) tor the year ended June 2017 Compute production cost per unit 3