QUESTION 3 (20 MARKS: 48 MINUTES) PenaPerl Business Trading provide the following information from the period ended 31 December 2020 RM Raw materials, 1 January 2020 35,000 Work in process, 1 January 2020 13,000 Finished goods, 1 January 2020 29,000 Raw materials purchased 180,000 Direct labour 288,000 Insurance expenses 167,000 Indirect labour 55,000 Factory machine depreciation 180,000 Utilities 50,000 Selling and administrative expenses 135,000 Sales 1,000,000 At the end of period, the balance of inventories are as follows: Raw materials 64,000 Work in process 42,000 Finished goods 33,000 The following costs are divided as follows: Factory building Administration Insurance Expenses 35% 65% Utilities expenses 70% 30% REQUIRED: Calculate the following: a) Direct materials used. (3 Marks) b) Manufacturing overhead. (4 Marks) c) Prepare Statement of Cost of Goods Manufactured which clearly states the cost of goods manufactured for the year ended 31 December 2020. (5 Marks) d) Prepare Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2020. (8 Marks)

QUESTION 4 (10 MARKS: 24 MINUTES) Budgeting is the process of designing, implementing and operating budgets. It is the managerial process of budget planning and preparation, budgetary control and the related procedures. Budgeting is the highest level of accounting in terms of future which indicates a definite course of action and not merely reporting. (https://www.yourarticlelibrary.com budgeting-accounting. Retrieved 29 April 2021). REQUIRED: Discuss FOUR (4) benefits of budgeting in managerial accounting. (10 Marks) QUESTION 5 (25 MARKS: 60 MINUTES) Sungai Kulim Manufacturing Sdn Bhd reported the following data in March 2021: Variable cost per unit sold Fixed cost Direct material RM1.80 Direct labor RM3.50 Factory overhead RM15,000 Selling Expenses RM0.50 Administrative Expenses RM35,400 REQUIRED: a) Calculate the unit contribution margin if the selling price per unit is RM10. (5 Marks) b) Calculate the minimum sales (in unit) at the break-even point. (5 Marks) c) Calculate the sales (in RM) that should be made in April 2021 to generate net income of RM27,300 if the selling price remains at RM10 per unit. (7 Marks) d) On 1 May 2021, the company purchases a new machine and its monthly depreciation expenses is estimated at RM2,000. This new machine has increased the sales (in unit) by 10%. Assume that the sales in November is RM200,000 and no changes in selling price and variable cost per unit. Calculate the expected net income in May 2021. (8 Marks)