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FA3 Assignment
FA3 Assignment
ACC 2043
ASSIGNMENT PROPOSAL
LECTURER
PREPARED BY :
N NAME ID NUMBER
O
1 MUHAMMAD SYAIRIE BIN MOHD TAUFIK (MDA21-07-088)
First and foremost, praises and thanks to the God, the Almighty, for His showers
of blessings throughout my assignment to complete the assignment successfully.
We would like to express our deep and sincere gratitude to our lecturer, Miss
Nurhafizah binti Mohammad, for giving us the opportunity to do this assignment and
providing invaluable guidance throughout this research. Her dynamism, vision, sincerity
and motivation have deeply inspired us. She has taught us the method to carry out the
assignment and to present the assignment as clearly as possible. It was a great
privilege and honour to work and study under her guidance. We are extremely grateful
for what she has offered us. We would also like to thank her for her friendship,
empathy, and great sense of humor. We would also like to say thanks to our friends
and research colleagues for their constant encouragement. Without their effort day and
night, this assignment.
INTRODUCTION
Manufacturing enterprise produces goods for sale by processing raw materials in a factory.
The manufacturer usually sells these goods, either as finished products to a whole seller or
as a partly finished product to another manufacturer. Same like our company that produces
cakes form by two cost which is direct and indirect cost then mainly form by raw materials.
The purpose of preparing Manufacturing Account is to calculate Production Cost. Sometimes
it is to show whether the factory achieved profit or loss. This is to decide whether to
manufacture its own goods or not. Once again similar to our company, all of these is to
determine whether to put together the materials that has been confirmed to form.
BACKGROUND
Neons Bakery operates every day. From Monday to Saturday this company is open from
7.00 am to 7:00 pm. While Sunday, this company will be closed and having a day off for all
workers. I choose this place as a company site because this area has the potential to get a
good and warm response. It’s a well thought area that makes it easy for seller and
shareholders to foregather into our company.
VISION
Be a local company that might lead to spread several branches across the country.
MISSION
To reduce cost and maximize the profit as well as to provide high quality products. By doing
this, we could attract workers to work with our company by paying an intermediate amount
of wages along with benefits such as bonus or leave entitlement. Other than that,
identifying the number of products that must be produced to estimate the direct cost that
must be obtain rather than mass produced that leads to wasting materials. Lastly, to ensure
the quality of the finished goods that is being produced.
ORGANIZATIONAL CHART
Owner
Syairie
- Indirect
- Direct labour labour
- Operator - Office staff
-
INFORMATION MANUFACTURED PRODUCT
Components of the product: Flour, eggs, dairy products, whipping cream, cream cheese,
butter, sugar, salt, baking soda
ITEM PRICE(RM)
FLOURS 4000
EGGS 4000
DAIRY PRODUCTS 4500
WHIPPING CREAM 3000
CREAM CHEESE 3500
BUTTER 3000
SUGAR 2000
SALT 2000
BAKING SODA 1000
Statement
Statementof Financial
Profit Position
ofAccount orfor
Loss for the
the year
year ended
ended 3131 February
February 2021
2021
Manufacturing thefor
year ended 31 February 2021
Non-Current Asset RM RM RM RMRM Neons
RM RM
Sales 20,0 20,0
Opening Inventory Raw Materials 6,100 115,630 Bakery
Plant
(-) and
ReturnRaw Machinery
Inwards 00 - 00
Purchase Materials 7,0 27,000 7,0560
Net Sales
Carriage Inwards 210 116,190
Fixtures and Fittings 00 - 00
Less : Cost of Goods Sold 35,010 27,0
8,28
Less:Purchases return 1,700
00
Opening inventory Finished Goods 0 Neons
36,710
68,97 Bakery
Less
Current: Closing
Asset Inventory Raw
Cost of Production 0 4,800
Materials
Closing Inventory : 77,25
Cost of Raw Materials Consumed 05,4 41,510
DirectMaterials
Raw Expenses 00 4,98 1700
Manufacturing Wages
Less: Closing Inventory Finished Goods 02,4 8,480
Work
Prime
(-) Cost inCost
Progress
of Goods Sold 80 49,990 82,230
FactoryProfit
Gross Overhead Expenses : 4,9 33,960
Finished Goods 801,
Factory
Revenue Power 120 21,6
Bank 103,
Interest Income 440
Rates
Discount andReceived
Insurance (4800*3/4) 600 5,4 140
Account Receivables 301,
34,540
Utilities (300 + 700) 000 3,2
Expenses
Cash in Hand 50
Administrative
Factory Rents Expenses 350 43,1
7, 15,09 50
Office
Indirect and Administrative
factory wages 270 0 70,1
1,20 50
13,340
Office
Financed ratesbyand
: insurance (4800*1/4) 0
Total Production Cost 63,330
3
Add:
Office Opening
telephone Work
(250in +
Progress
50) 00 3,160 30,0
Capital 00
4,90 66,490 11,0
Less: Closing
Office andProfitWork and
Salaries in Progress
Wages 0 2,480
Add: Net 50
Production of Completed Goods 2,0068,970
41,0
Interest on Loan (10% x 20000) 0
50
23,490
Net Profit 11,050
Current Liabilities
To keep our expenses down, we use simple but high-quality materials. The manufacturing
aspect is critical to maintaining the high quality of the products we sell. We are grateful for
all of the challenges we have overcome and for demonstrating that we are capable of
succeeding in this industry. Our ambition is to be able to promote the product outside of
Malaysia one day, in order to expand our business and boost its popularity.
REFERENCE
INDIVIDUAL REFLECTION
At least 3 entries:
One Problem faced
-A problem faced during assignment is lack of time . Because I have to commit
in chores
One Comment
-I like to be part in this group because the cooperation they gave adequate in
the assignment .
One Suggestions
-From my point of view , this assignment should be done in college instead of at
home . This is because the assignment needs a full cooperation from the group
members in face to face
DOCUMENT A
INDIVIDUAL REFLECTION
At least 3 entries:
One Problem faced
- It’s a quite challenging to communicate with my group members due to
the online learning.
One Comment
-I like to be part in this group because the cooperation is well used.
One Suggestions
- This assignment, in my opinion, should be completed in college rather than at
home. This is due to the fact that the task necessitates complete collaboration
from the group members in a face-to-face setting.
DOCUMENT A
INDIVIDUAL REFLECTION
At least 3 entries:
One Problem faced
-Due to the amount of assignment that was piled up, we didn’t have much time
to focus on one assignment
One Comment
-This assignment is interesting and help us to know much more about the cost
of such product being made.
One Suggestions
-The capital should be a bit much more as it was difficult for a new company to
start up any product
DOCUMENT A
INDIVIDUAL REFLECTION
At least 3 entries:
One Problem faced
-It was more of personal problem as it was my connection is slow and hard to
cooperate with other members
One Comment
-The members were very tolerant about my situation and it helps for us to
broaden our knowledge about manufactured products.
One Suggestions
-I think it should be specific of when was the company was made. Is the
company is a new one or just the product is the new one should be in question.