Question 3 The cost information below is related to the production activities of Mega Sdn Bhd (MSB). MSB produced 3,000 tables in March. These tables are sold for RM200 each. MSB had 200 finished goods inventory at the beginning of March. At the end of March, there were 300 tables in the finished goods inventory. The following cost information relates to March. RM 120,000 5,000 3,000 75,000 1,500 80,000 5,000 15,000 15,500 2,500 10,000 4,500 22,500 4,500 33,700 67,500 112,500 150,000 156,000 90,000 7,000 17,500 4,000 30,000 25,000 5,500 42,500 Wood purchased Woods returned to the supplier Varnish Wages of production workers Royalties paid (monthly) Special cutter machine Special cutter machine hire-purchase rental Security guard salary Factory rent Factory cleaner salary Office rental Depreciation of plant and machinery Depreciation of factory building Factory utilities Factory supervision Sales commission Administration expenses Administration salaries Supervisor salary Accountant salaries Commission for salesman Beginning balance, raw materials Beginning balance, WIP Beginning balance, finished goods Ending balance, raw materials Ending balance, WIP Ending balance, Finished goods Required: a) Prepare a statement for the cost of goods manufactured. b) Compute the average cost of producing one unit of the table. c) Calculate the total conversion cost. (10 marks) (3 marks) (2 marks) d) Prepare a statement of profit and loss for external users