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c) The following costs and inventory data were taken from the accounts of Kinta Bhd for 2019: 1 January 2019 31 December 2019 Inventories: Raw
c) The following costs and inventory data were taken from the accounts of Kinta Bhd for 2019: 1 January 2019 31 December 2019 Inventories: Raw materials RM 8,000 RM 7,000 Work in process 15,000 13,000 Finished goods 16,000 10,000 Costs incurred: Raw materials purchases RM93,000 Direct labor 42,000 Factory rent 8,000 Factory utilities 7,000 Indirect materials 4,000 Indirect labor 6,000 Selling expenses 5,000 Administrative expenses 12,000 Required: a. Compute direct materials used in production during the year. (2 marks) b. Compute the amount of manufacturing overhead incurred during the year. (3 marks) c. Compute the cost of goods manufactured. (3 marks) d. Compute the cost of goods sold. (2 marks)
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