Question 2 I JCY Bhd is a manufacturer provides following financial data for year ended 31.12.2020 RM Stocks as at 1 January 2020: Raw materials 21,000 Work in progress 7,670 Finished goods 24,330 Purchases of raw materials 115,100 Direct expenses 12,590 Direct wages 43,500 Factory power 7,300 Rent: Factory, Office 15,200 Indirect wages 14,990 Depreciation: Factory equipment 2,370 Office equipment 6,550 397,000 Sales Salaries of sales workers Administrations costs Finance cost Additional information: Stocks as at 31 December 2020: . 9,430 100,120 8,000 Raw materials: $18,000, Work in progress $6,890, Finished goods $28,750 Rent accrued (not yet recognised as expenses) $800 Direct expenses prepaid (Overpayment) $250 It is the policy of the company to transfer the value of goods manufactured to sales department at cost. Required: Prepared a manufacturing account and income statement for the year ended 31.12.2020 (Total 50 marks)