Reference no: EM132575412

TG Sdn. Bhd. is an electrical manufacturing company located in Pagoh. It is a well- established company with a favorable reputation for the quality of their products. The company manages to increase its production to meet their customer's demand. Among the company's goals is to have a better management in controlling product costs.

Presented below is the information for the year ended 31 December 2019:

RM Sales 6,300,000
Sales Expenses 210,000
Administration Expenses 135,000
Income Tax Expenses 75,000
Direct Material Purchased 1,650,000
Direct Labour 840,000
Indirect Labour 360,000
Depreciation Expenses - Factory Machine 45,000
Utilities Expenses 135,000
Depreciation Expenses - Factory Building 90,000
Insurance Expenses 60,000
Supplies Expenses 75,000
Other Expenses 90,000
Finished Goods Inventory, 31 December 2019 390,000
Work-in-process Inventory, 31 December 2019 162,000
Direct Material Inventory, 31 December 2019 105,000

Additional information:

1. The opening inventory on 1 January 2019 for ?nished goods, work-in-process and direct materials are RM540,000, RM195,000 and RM90,000, respectively.

2. Utility, insurance, supplies and other expenses for factory and of?ce are allocated as below:

                                           Factory                     Of?ce

Utility expenses                 40%                      60%
Insurance expenses            50%                      50%
Supplies expenses              20%                     80%
Other expenses                  10%                        90%

REQUIRED:

Question (a) Prepare the Statement of Cost of Goods Manufactured for the year ended 31 December 2019.

Question (b) Prepare the Statement of Pro?t or Loss and Other Comprehensive Income for the year ended 31 December 2019.