These are the questions and some requires to be done in excel.

Question 1 A liquid detergent manufacturing company produces one of its detergent product using two processes, the Chemical Mixing Process, and the Colouring Process. The detergent product is manufactured beginning with the Chemical Mixing Process, and ends with the Colouring Process. Information relating to the Colouring Process for a certain month is as follows: Opening inventory 7,000 litres: Degree of completion Cost {RM} Chemical Mixing Process materials 100% 45,000 Added materials 40% 5,000 Conversion costs 30% 1_5,000 65,000 > During the month, 40,000 litres were transferred from the Chemical Mixing Process at a valuation of RM250,000. Added materials cost RM28,000 and conversion costs were RM85,000. > Closing inventory for the month amounted to 10,000 litres which were 100% complete with respect to the Chemical Mixing Process materials and 60% complete with respect to added materials. Conversion cost work was 40% complete. 3* The company uses a weighted average cost system for the valuation of output and closing inventory. Required: (a) Prepare the following parts of the cost of production report: (i) A quantity schedule showing the computation of equivalent units and cost per equivalent unit for the month. (10 marks) (ii) Cost assignments. (4 marks) (in) Prepare the Colouring Process account for the month. (3 marks) (6) Explain why the liquid detergent manufacturer uses a Process costing system instead of a Job costing system. (3 marks) Question 4 (3) Prepare the following journal entries for a job costing system: (i) Purchase of materials from a supplier on credit (2 marks) (ii) Issues of direct and indirect materials for production (2 marks) (iii) Payment of gross wages to employees (2 marks) (iv) Allocation of gross wages, comprising direct and indirect wages for production (2 marks) (b) Both joint products and by-products arise from a joint production process whereby they are not separately identiable until after they have emerged from this joint process. (i) A and B are joint product that can be sold immediately after split-off. The following information is available for last period: No opening inventories. Total joint production costs were RM750,000. Product Production units Sales units Selling price per unit A 14 000 12 000 RMIO B 12 000 8 000 RM12 Using the physical unit method, compute the value of the closing inventory of product A and B for the last period. (6 marks) (ii) In your View, why is the physical measures method not as satisfactory as the sales value method of joint cost allocation? (5 marks) (in) Provide and describe in detail an example of an industry that produces both joint and by-products. (6 marks) [Total: 25 Marks] (d) Is it common for a liquid detergent manufacturer to incur normal and abnormal losses in the manufacturing processes? Explain in relation to the liquid detergent manufacturer how normal and abnormal losses can occur and what accounting treatment is necessary. (5 marks) [Total: 25 Marks] Question 2 The information below relates to data concerning a company's operations in a year: Units in beginning inventory Units produced 0,000 Units sold 9,000 Selling price per unit RM60 Variable costs per unit: RM15 Direct materials Direct labor RM5 Variable manufacturing overhead RM2 Variable selling and administrative RM4 Fixed costs in total: Fixed manufacturing overhead RM200,000 Fixed selling and administrative RM70,000 Direct labour here is a variable cost. Required: (a) Prepare the statement of profit or loss for the year using absorption costing. (8 marks) (b) Prepare the statement of profit or loss for the year using variable costing. (8 marks) (c) The mooncake is a Chinese bakery product traditionally eaten during the Mid-Autumn Festival, celebrated on the eight month of the Chinese Lunar calendar. If you are the management accountant of a company producing mooncakes and other festive delicacies, explain the impact of sales and production cost of such a product on profits if (i) absorption costing, or (ii) variable costing is adopted, clearly proposing which costing system is most suitable here. (9 marks) [Total: 25 Marks] Question 3 (a) Company B uses traditional bsorption costingQuestion 3 (a) Company B uses a traditional absorption costing system and absorbs production overheads on the basis of standard machine hours. The following are budgeted and actual information applied in its last accounting period: Budget A ctual Production overhead RM750,000 R M725,000 Machine hours 125,000 120,000 Units produces 50,000 50,000 Required: Calculate the following: (i) Budgeted overhead absorption rate (1 mark) (ii) Actual overhead rate (1 mark) (iii) Actual overhead absorbed (2 marks) (iv) Production overhead under / over-absorbed (2 marks) (b)The following are details of stock purchased and sold in Company C between January and June of a particular year: Bought Sold March 250 units at RM30 each May 100 units at RM42 each Required: (a) Show calculations of stock valuation using the FIFO; LIFO; and AVCO methods using the perpetual system. (15 marks) (ii) In your opinion, how do companies determine the choice of stock valuation method to be used. Explain TWO (2) reasons affecting the choice with suitable examples. (4 marks) [Total: 25 Marks]