QUESTION 2 Aji Hijau Sdn Bhd is a manufacturer of bio-degradable plastic products. The company manufactures several types of bio-degradable plastic products such as plastic food box, bottles and bags. The following information is supplied by the bookkeeper of Aji Hijau Sdn Bhd for the year ended 31 March 2013. RM 190,000 1,030,000 1,175,000 203.000 2,980,000 30.800 16,500 18,800 Carriage inwards Water and electricity Wages and salaries: Manufacturing wages Administrative staff Other production expenses Depreciation of plant and machinery Depreciation of motor vehicles Depreciation of furniture and fittings Inventories at 1 April 2012: Raw materials Finished goods Work in progress (at production cost) Loose tools Purchases of raw materials Other administration expenses Insurance on building Sales return Sales Inventories at 31 March 2013: 2,150,000 4,370,000 1,045,000 160,000 10,360,000 1.269,000 22,800 10,680 67,190,000 Raw materials Finished goods (at market value) Work in progress Loose tools Allowance for unrealised profit at 1 April 2012 Repair and maintenance on plant and machinery Repair and maintenance on motor vehicles 1.260.000 1,635,000 820,000 110.000 388,000 126,850 98,265 Additional information: 1. The manufactured goods are transferred to the Statement of Profit or Loss at factory cost plus a markup of 20%. 2. Analysis of the manufacturing wages figure revealed: Production labour Manager Foremen RM 930,000 214.000 31,000 3. The apportionment of expenses are as follows: Water and electricity Motor vehicle expenses Insurance on building Factory 2/3 1/5 3/4 Office 1/3 4/5 1/4 4. Work in progress is to be valued at production cost. Required: a. Prepare Manufacturing account for the year ended 31 March 2013 (10 marks) b. Prepare Statement of Profit or Loss for the year ended 31 March 2013. (8 marks)