UESTION 1 In year 2017, Adijuma Manufacturing reported the following: Revenue Raw material inventory January 1 Purchases of raw material Raw material inventory, December 31 Net fixed assets Account pavable Direct labor Manufacturing overhead Work in process, beginning inventory January 1 Selling and marketing cost Cash Work in process, ending inventory, December 31 Account Receivables Finished goods, beginning inventory January 1 Prepaid Insurance expenses Administrative cost Finished goods, ending inventory, December 31 RM420,000 22,000 146,000 16,000 850,000 107,000 18,000 40,000 30,000 80,000 350,000 20,000 264,000 35,000 5,000 60,000 36,000 Instructions: (a) Prepare a Schedule of Cost of Goods Manufactured for year ended 31 Dec 2017. (b) Prepare an Income Statement for year ended 31 December 2017. (c) Prepare partial Statement of Financial Position as at 31 Dec 2017 (Asset part only) (6 marks) (5 marks) (4 marks)