QUESTION 2 The accountant of Jim Sdn. Bhd. presented the following information from the company's accounting records for the year ended 31 December 2019. RM Inventories at 1 January 2019: Raw materials 20,000 12,000 Work in process Finished goods 80,000 Inventories at 31 December 2019: Raw materials 24,000 Work in process 8,000 Finished goods 90,000 Sales 1,100,000 Selling expenses 170,000 60,000 Supplies expenses Administrative expenses 50,000 Direct labour 120,000 Purchases of raw materials 190,000 Utility expenses 60,000 Factory management salaries 70,000 Insurance expenses 30,000 Maintenance expenses 28,000 Depreciation for factory 20,000 10,000 Factory rental Additional information: The allocation for the following expenses are as follows: Utility expenses Insurance expenses Maintenance expenses Supplies expenses Office 60% 30% 40% 50% Factory 40% 70% 60% 50% REQUIRED: (a) Prepare the Statement of Cost of Goods Manufactured for Jim Sdn. Bhd. for the year ended 31 December 2019. (b) Prepare the Statement of Profit or Loss and Other Comprehensive Income for JIM Sdn. Bhd. for the year ended 31 December 2019