DEPARTMENT OF COMMERCE

SESSION: DEC 2015

CODE & COURSE : DPA202 BASIC COST ACCOUNTING

AimanAdam Enterprise is textile wholesale in Kuala Terengganu. Following are the inventory
transaction for year 2012:
PURCHASES
Date

Unit

SALES
Price a unit
(RM)

Date

Total sales
(RM)

January

420

36

January

10,000

February

250

27

February

6,400

April

185

40

Mac

6,000

October

128

33

May

9,000

June

2,610

November

10,780

Inventory at 1 January 2012 is 56 unit for the price RM42 a unit. Following are the selling price:
Period

Price a unit
(RM)

January until March

40

April until June

45

July until September

50

August until October

52

November until December

55

You have to determine the total of closing stock , cost of goods sold and gross profit for the year
ended 31 December 2012 using the following method:
a. Last In First Out (LIFO)
b. First In First Out (FIFO
c. Weighted Average

Homework - Wage

Kilang Sepatu Teguh produced shoes and have three workers with different skills in the production
line as per below:

Minah

Mamat

Sepah

Unit produced

120

110

115

Standard time

65 hours

55 hours

75 hours

Actual time taken

50 hours

60 hours

70 hours

Wage rate/ hour

RM4.20

RM4.50

RM5.00

Wage rate/ unit

RM1.20

RM1.80

RM2.20

You are required to calculate total wages for each worker using:
1.

Piece Work Basis

2.

Halsey Scheme

3.

3.

Rowan Scheme

Homework - Cost Statement

Question 1
The information below was extracted from Suraya Collection Pty Ltd for year ended December 31,
2015.
RM
Plant & Machinery

250,000

Office equipment
Opening stock:-

80,000
Raw materials

12,000

Works in progress

8,000

Purchased of raw materials

27,000

Direct wages

8,000

Indirect wages

26,000

Power & electric expenses

7,000

Insurance

10,600

Rent

12,400

Sales expenses
Depreciation:-

3,800
Plant & Machinery
Office equipment

25,000
8,000

Additional informations:-

Raw materials

RM4,900

Works in progress

RM5,500

a)

Closingstock :

b) Power & electric

expenses are to be portioned to office & factory at the ratio of 2 : 3
c) Insurance & rent are to be portioned to office & factory at the ratio of 3 : 5

You are required to prepare statement of cost for Suraya Collection Pty Ltd.

Question 2...Syarikat MyMoney Sdn Bhd is a company who produce a child cloths with named
DAnak located in SomSong Industrial Park. As an new accountant, you are required to prepare a cost
statement for your company. The information below was taken from the company record:
RM
Stock as at 01/01/07

5,211

Stock as at 31/12/07

6,300

Purchases of raw material

Freight in

47,533
1,133

Wages

37,733

Thread

5,422

Salaries Store keeper

7,466

- Administration staff

13,668

- Manager

25,445

- Driver

7,939

- Salesman

19,600

Water & electricity

17,000

Telephone

4,800

Factory insurance

3,350

Cylinder oil

1,600

Machinery repairs

5,160

Advertising

3,370

Patent

9,750

Depreciation Van

2,350

- Machinery
Stationeries

5,570
750

Note:
1.

30% of manager time spend for factory supervision.

2.

80% of wages were charge to the operation activity.

3.

Van is used for delivery of finish good to store.

4.

Patent paid based on unit produced.