Business Transactions (Task #3) Azlina, spent few months talking to various suppliers in order to determine her cost structure. She added cost data to the information in Table 1. Rasa Sorga Bakery Houz opened for business on January 1, 2020 as planned. During the month of January, the business purchased and used 200 kg of flour, 200 kg of sugar, 60 dozen eggs and had 4 bad eggs to dispose of during the month, 10 baking soda boxes, 200 kg of butter, 100 kg of raisons, 10 bottles of vinegar, and the other ingredients (one box of each for a total of four) all from one supplier on account. Manufacturing overhead is applied to production at RM4 per cake. Azlina purchased the oven using the start-up capital and paid all salaries. Her nieces worked 300 hours in total for the month. January was a very good month for the bakery since it baked 500 cakes and sold all for cash. The average selling price was RM80 per cake. All manufacturing overhead is closed out at month end. The supplier was paid at month end. Required: Document Rasa Sorga Bakery Houz transactions using T-accounts (round all calculations to the nearest ringgit). All other costs such as utilities, must be accounted for in the T-account (assume such transactions were applicable, are paid in cash). The accounts is for the month ended January 2020. Hint: Open T-account for Material Inventory. Work in Process. Selling & Admin Expenses. Cash Manufacturing Overhead, Accounts Payable, Salaries Payable, Finished Goods, Revenue/Sales Accumulated Depreciation, Cost of Goods Sold Account and any other accounts that are relevant TABLE LE COST INFORMATION Item and Ingredients Cost Standard per cake n/a n/a Conventional Oven RM6,000 (depreciated over 5 years on a straight-line method. No salvage value) Refrigerator RMO (Provided by the landlord) Baking Pans, licenses RMO (Paid by father Baking flour RM24 per 10kg bag RM12 per dozen Sugar RM30 per 10 kg bag Baking Soda RM20 per 10 kg box | Butter RM12 per 500 gram Raisins RM8 per 2 kg Others (currants, diced date, RM120 for 4 boxes per month nutmeg, molasses) Cash Register RM50 per month (Rental for 2 years) Vinegar RM10 per bottle of 500 ml Utilities (gas, electricity and RM200 per month water Mobile phone (business) RM100 per month Salary - Azlina RM1000 per month Salary-nieces (RM250 each x 2) RM500 per month 500 gram 4 eggs 500 gram 1 gram 500 gram 100 gram Prices exclude from project Maxis The nieces worked 8 hours a day for 20 days a month. Salary-Aunt Accountant Estimated manufacturing overhead (MOH) RM800 per month RM200 per month RM4.00 per cake Business Transactions (Task #3) Azlina, spent few months talking to various suppliers in order to determine her cost structure. She added cost data to the information in Table 1. Rasa Sorga Bakery Houz opened for business on January 1, 2020 as planned. During the month of January, the business purchased and used 200 kg of flour, 200 kg of sugar, 60 dozen eggs and had 4 bad eggs to dispose of during the month, 10 baking soda boxes, 200 kg of butter, 100 kg of raisons, 10 bottles of vinegar, and the other ingredients (one box of each for a total of four) all from one supplier on account. Manufacturing overhead is applied to production at RM4 per cake. Azlina purchased the oven using the start-up capital and paid all salaries. Her nieces worked 300 hours in total for the month. January was a very good month for the bakery since it baked 500 cakes and sold all for cash. The average selling price was RM80 per cake. All manufacturing overhead is closed out at month end. The supplier was paid at month end. Required: Document Rasa Sorga Bakery Houz transactions using T-accounts (round all calculations to the nearest ringgit). All other costs such as utilities, must be accounted for in the T-account (assume such transactions were applicable, are paid in cash). The accounts is for the month ended January 2020. Hint: Open T-account for Material Inventory. Work in Process. Selling & Admin Expenses. Cash Manufacturing Overhead, Accounts Payable, Salaries Payable, Finished Goods, Revenue/Sales Accumulated Depreciation, Cost of Goods Sold Account and any other accounts that are relevant TABLE LE COST INFORMATION Item and Ingredients Cost Standard per cake n/a n/a Conventional Oven RM6,000 (depreciated over 5 years on a straight-line method. No salvage value) Refrigerator RMO (Provided by the landlord) Baking Pans, licenses RMO (Paid by father Baking flour RM24 per 10kg bag RM12 per dozen Sugar RM30 per 10 kg bag Baking Soda RM20 per 10 kg box | Butter RM12 per 500 gram Raisins RM8 per 2 kg Others (currants, diced date, RM120 for 4 boxes per month nutmeg, molasses) Cash Register RM50 per month (Rental for 2 years) Vinegar RM10 per bottle of 500 ml Utilities (gas, electricity and RM200 per month water Mobile phone (business) RM100 per month Salary - Azlina RM1000 per month Salary-nieces (RM250 each x 2) RM500 per month 500 gram 4 eggs 500 gram 1 gram 500 gram 100 gram Prices exclude from project Maxis The nieces worked 8 hours a day for 20 days a month. Salary-Aunt Accountant Estimated manufacturing overhead (MOH) RM800 per month RM200 per month RM4.00 per cake