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QUESTION 2 (15 MARKS) The final balances of the ledger account for Pintar Manufacturing as at 30 June 2020 are as follows: Raw materials
QUESTION 2 (15 MARKS) The final balances of the ledger account for Pintar Manufacturing as at 30 June 2020 are as follows: Raw materials inventory Work in Process inventory Accounts RM 15,000 11,250 Finished goods inventory 13,500 Sales Sales return Sales discount 292,500 8,250 3,000 Rent revenue 30,000 Purchase of raw materials 112,500 Direct labour 33,750 Sales expense 22,500 Administration and general expense 66,000 Indirect labour RM7,500 Factory supplies RM225 Factory utility expense Machine depreciation expense Insurance expense of factory building Factory miscellaneous expense RM750 RM8,250 RM750 RM5,775 Additional information: The physical inventory calculation on 30 June 2020 found that the raw material inventory was RM9,000, the finished goods inventory was RM45,000, and the work in process inventory was RM37,500. Required: Prepare for Pintar Manufacturing: a) Statement of Cost of Goods Sold for the year ended 30 June 2020. b) Statement of Comprehensive Income for the year ended 30 June 2020. c) Current Assets Section of Statement of Financial Position as at 30 June 2020. (8 Marks) (4 Marks) (3 Marks)
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