QUESTION 3 (15 MARKS: 54 MINUTES) Palm Oil Factory Bhd reported the following information for the accounting year ended 31 March 2021. Raw Materials Work in Process Finished Goods Beginning RM 49,500 125,000 98,000 Ending RM 25,700 95.000 75,000 The following data had been taken from the accounting records for the period: RM Purchase of direct materials 135,000 Direct labour 125,000 Indirect labour 28,500 Indirect materials 26,000 Depreciation 105,000 Insurance 36,000 Utilities 35,500 Sales 667,000 1. Additional Information: 65% of the depreciation was for factory and the remaining was for administrative 70% of the insurance was for factory and the remaining was for administrative 3. 80% of the utilities was for factory and the remaining was for administrative REQUIRED: (a) Prepare the Statement of Cost of Goods Manufactured of Palm Oil Factory Bhd for the year ended 31 March 2021 (8 Marks) (b) Prepare the Statement of Profit or loss and Other Comprehensive Income of Palm Oil Factory Bhd for the year ended 31 March 2021 17 Marks)