Question
The following information is taken from the December 31 st , 2019, adjusted trial balance and other records of FHHA Sdn. Bhd. RM Advertising expense
The following information is taken from the December 31st, 2019, adjusted trial balance and other records of FHHA Sdn. Bhd.
RM
Advertising expense 19,125
Depreciation expense-Office equipment 8,750
Depreciation expense-Selling equipment 10,000
Depreciation expense-Factory equipment 32,500
Factory supervision 122,500
Factory supplies used 15,750
Factory utilities 36,250
Inventories
Raw materials, December 31st, 2018 177,500
Raw materials, December 31st, 2019 168,125
Goods in process, December 31, 2018
15,875
Goods in process, December 31st, 2019
14,000
Finished goods, December 31st, 2018
164,375
Finished goods, December 31st, 2019
129,000
Direct labor
650,750
Indirect labor
60,000
Miscellaneous production cost
8,500
Office salaries expense
100,875
Raw materials purchases
872,500
Rent expense-Office space
21,125
Rent expense-Selling space
25,750
Rent expense-Factory building
79,750
Maintenance expense-Factory equipment
27,875
Sales
3,275,000
Sales salaries expense
286,250
Office equipment
250,000
Selling equipment
120,000
Factory equipment
310,000
Bank
17,000
Account Receivable
60,000
Account Payable
111,000
Capital
280,000
Drawings
173,000
Required:
(a)Compute the cost of goods manufactured for FHHA Sdn. Bhd.
(b)Prepare Statement of Profit and Loss for the year ended 31st December 2019.
(c)Prepare Statement of Financial Position as at 31st December 2019.
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