BUKU PRODUCER manufactures books to cater the private universities in Malaysia:. Cost incurred during the year ended 31 December 2020: Building (40% used by office) 500,000 Building rental 60,000 Depreciation of building 40,000 Equipment (20 % used by factory) 150,000 Depreciation of equipment 30,000 Depreciation of office furniture 10,000 Direct Material purchases 703,000 Factory insurance 80,000 Indirect material (10% of cost of direct material used) Labour cost (80% direct) 300,000 Other manufacturing overheads 55,000 Sales 850,000 Selling & administrative expense 87,000 Following are the balance of inventories on 1 January 2020 31 December 2020 Raw Material Work in process Finished Goods 35,000 56,000 60,000 30,000 45,000 70,000

Required:

a. Prepare the schedule of cost of goods manufactured for the year ended 31 December 2021. (Note: Show all necessary workings)

b. Prepare the schedule of cost of goods sold for the year ended 31 December 2021.

COGM and Income StX C Get Home X Sign in to Outlook M "COS X ACC110%20-%20ONLINE%20MID-SEMESTER%20TEST%20(53,%202021).pdf 5 CE W Blockchain.com -... ( T Tronex Internationa... 2 / 5 80% + 5,2021).pdf BUKU PRODUCER manufactures books to cater the private universities in Malaysia:. 500,000 60,000 40,000 150,000 30,000 10,000 703.000 80,000 Cost incurred during the year ended 31 December 2020: Building (40% used by office) Building rental Depreciation of building Equipment (20 % used by factory) Depreciation of equipment Depreciation of office furniture Direct Material purchases Factory insurance Indirect material (10% of cost of direct material used) Labour cost (80% direct) Other manufacturing overheads Sales Selling & administrative expense Following are the balance of inventories on 1 January 2020 Raw Material 35,000 56,000 Finished Goods 60,000 300,000 55,000 850.000 87,000 Work in process 31 December 2020 30,000 45.000 70,000 Required: a. Prepare the schedule of cost of goods manufactured for the year ended 31 December 2021. (Note: Show all necessary workines) b. Prepare the schedule of cost of goods sold for the year ended 31 December 2021. 33C Lig! COGM and Income StX C Get Home X Sign in to Outlook M "COS X ACC110%20-%20ONLINE%20MID-SEMESTER%20TEST%20(53,%202021).pdf 5 CE W Blockchain.com -... ( T Tronex Internationa... 2 / 5 80% + 5,2021).pdf BUKU PRODUCER manufactures books to cater the private universities in Malaysia:. 500,000 60,000 40,000 150,000 30,000 10,000 703.000 80,000 Cost incurred during the year ended 31 December 2020: Building (40% used by office) Building rental Depreciation of building Equipment (20 % used by factory) Depreciation of equipment Depreciation of office furniture Direct Material purchases Factory insurance Indirect material (10% of cost of direct material used) Labour cost (80% direct) Other manufacturing overheads Sales Selling & administrative expense Following are the balance of inventories on 1 January 2020 Raw Material 35,000 56,000 Finished Goods 60,000 300,000 55,000 850.000 87,000 Work in process 31 December 2020 30,000 45.000 70,000 Required: a. Prepare the schedule of cost of goods manufactured for the year ended 31 December 2021. (Note: Show all necessary workines) b. Prepare the schedule of cost of goods sold for the year ended 31 December 2021. 33C Lig