a.Prepare statement of cost production for the year ended 31 December 2020.
b.Prepare statement of comprehensive income for the year ended 31 December 2020.
Extracted text: CTSha Sdn. Bhd., a local business involved in the manufacturing of plastic, metal and other moulds for a wide variety of industrial customers, had the following balances extracted from its books on 31 December 2020. Name of Account RM WIP - Raw materials, 1 January 2020 WIP - Factory wages, 1 January 2020 WIP - Factory overhead, 1 January 2020 Raw materials, 1 January 2020 Raw materials purchases Transportation of raw materials Custom duties on raw materials Insurance on raw materials Factory wages Group accident insurance on factory workers Depreciation of plant and factory machinery Oils and lubricants Factory supervisor's wages Factory cleaner's wages Factory security's staff salaries Factory repairs and maintenance Factory insurance expense Sales returns 14,630 18,330 21,660 36,700 251,340 8,340 9,600 3,500 285,430 12,340 48,000 5,700 30,400 12,300 18,600 9,560 8,400 23,000 75.380 37,630 Finished goods, 1 January 2020 Advertising expense Salesmen's commissions Salesmen's salaries Selling expenses Office wages & salaries Office insurance expense Depreciation of office furniture Discounts allowed Bad debts expense Rent expenses Manager's salary Utilities 35,480 64,570 11,220 73,580 5,870 3,500 22,460 32,760 180,000 99,000 40,800 Depreciation of motor vehicles General expenses Pilferage of raw materials Returns of raw materials Sales 44,000 22,500 1,400 5,600 2,854,200 Discount received 23,460 15,000 Interest on fixed deposits
Extracted text: Additional information: On 31 December 2020, the following estimates were made: (i) Rent – two-thirds of the rent is for the factory while the rest is for the office. (ii) Manager's salary – one-third is for the factory while the rest is for the office. Utilities – RM4,800 of the utilities is estimated to be for the office use. (iv) Depreciation of motor vehicles –RM36,000 of this considered to be for use by the factor and the rest for the office. (v) General expense – one-third of the amount is considered to be for office use while the rest is for use in the factory. (vi) Inventory of raw materials – RM15,420. (vii) WIP, raw materials – RM13,690. (viii) WIP, factory wages – RM16.320. (ix) WIP, factory overhead – RM28,850. (x) Inventory of finished goods was valued at RM95,000.