Part A Hassan Sdn Bhd provided the following ending balances of inventories for the year 2020 and 2019

: 2020 2019

(RM) (RM)

Raw materials inventory 70,000 48,000

Work in process inventory 150,000 176,000

Finished goods inventory 104,000 128,000

During the year 2020, Hassan Sdn Bhd occurred several transactions such as purchased RM 240,000 of raw materials, incurred direct labour costs of RM 360,000, and incurred manufacturing overhead totalling RM 640,000.

Required: (a) Indicate total manufacturing costs. Show all workings.

(b) Based on answer in (a), indicate cost of goods manufactured. Show all workings.

(c) Briefly describe product cost and period cost. Provide any TWO (2) items categorised as period costs.