cost of manufacturing statement 30 june 2014

Question 1 The operational report for the management of Fluence Sdn Bhd is preparing its factory accounting year ended June 2014. Listed below is the relevant information: RM Finished Goods Inventory, 1/7/2013 164,500 Cash 420,000 270,000 Accounts Payables 121,500 Direct Labour 570,000 Factory Depreciation 45,000 Managing Director Salary 50,000 Rental Expenses 76,000 Sales 3,790,000 72,000 Raw Materials Inventory, 1/7/2013 Raw Materials Purchases 660,500 74,000 Raw Materials Inventory, 30/6/2014 Factory Utilities 66,000 Other Overheads 18,000 Work-In-Progress Inventory, 1/7/2013 36,000 Work-In-Progress Inventory, 30/6/2014 70,000 Salary Expenses 410,000 Tax on Factory 9,000 85,000 Finished Goods Inventory, 30/6/2014 315,000 Additional information 25% of the Salary Expenses is for the Factory Supervision and the balance is for Administrative purposes 2. Insurance Expenses and Rental Expenses both are divided on the ratio of 35:65 respectively for Administrative and Factory purposes. Required: (a) Prepare Cost of Manufacturing Statement as at 30th June 2014. (b) Ilustrate the summary of Costing. (15 marks 5 marks]