ACC1023 ASSIGNMENT

(ACC1023)

MANUFACTURING ACCOUNT:
“JANTAN COOKIES ENTERPRISE“

LECTURER: PUAN HADRAH HANUM BT RAMLI NO ID
BMF20-07-001
DUE DATE: 25 SEPTEMBER 2020 BMF20-07-004
BMF20-07-008
CLASS: DBF2D BMF20-07-006
BMF20-07-005
NAME BMF20-07-012
MUHAMMAD HAZIQ BIN MOHD HAIKAL
MUHAMMAD FIKRI BIN ABDUL RAHMAN
MOHAMAD ZULHAKIMI BIN MOHD NASIR

AHMAD SHAFIQ BIN NORAZNAN
MUHAMMAD IRFANUDDIN BIN MOHAMMAD AZMAN

AHMAD DZULQHARNAEN BIN ABDUL RAZAK

1

REPORT

A) INTRODUCTION OF JANTAN COOKIES
Chocolate chip cookies are most commonly baked until crisp or just long

enough that they remain soft. Everyone have their own taste some people like the
crispy cookies and some people like chewy cookies. Cookies are made in a wide variety
of styles. There are many brand of cookies produces by various manufactures but, our
recipe cookies is different from others company. We made it with full of love and
intensity. The ingredients of our cookies is castor sugar, brown sugar, butter, egg,
vanilla extract, flour, baking soda, corn starch, sea salt, toasted hazelnut and chocolate
chips. The softness of the cookies may depend on how long it is baked.

Jantan Cookies Enterprise founded in 1st of October 2019, is a 100 %
Malaysia company. We produces the homemade chocolate chip cookies with the best
quality and healthiest for customers everyday. As we started our business, we only
had six workers which are our founder itself and three other workers. Luckily, our
demand of chocolate chip cookies products was increased day by day. So, we decided
to take this opportunity to step out in the rising local market and expand our cookies
to the overseas.

Our chocolate chip cookies are backed with Halal. We are proud of our
paste of chocolate chip cookies as well as our know. Through years of aggressive
marketing and wide spread distribution, our products as become a leading food
manufacturing corporation in the country today.

As we know site selection with one of the most important decision to
will make. It takes us a long time as we have to review the best location for our
company. At last, we have choose Pengkalan Kota Bharu Kelantan as the best site for
our company. Everyone deserves a choice in taste, hence we believe our chocolate
chip cookies is the best in the world.

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B) ALL COST JANTAN COOKIES ENTERPRISE 21000
370000
1.Cost of raw material consumed 35000
394500
Inventory of raw materials at 1 oct 2019 (24000)
Add: Purchases 370500

Carriage Inwards 370500
180000
Less: Inventory Raw Materials at 30 september 2020
Cost of raw Material consumed 7000
557500
2.Prime Cost
31000 557500
Cost of raw Material consumed 6250
Direct Labour 13700 237450
Royalties 10000 794950
PRIME COST 3500
28000
3.Production Cost 145000

PRIME COST
Indirect manufacturing cost:
General Factory Expenses
Electricity
Salaries
Rent
Insurance
Depreciation of machinery
Indirect Labour

TOTAL PRODUCTION COST

3

C) i) Forecast of Sales

JANUARY RM 84699.45
FEBRUARY RM 79234.97
MARCH RM 84699.45
APRIL RM 81967.22
MAY RM 84699.45
JUNE RM 81967.22
JULY RM 84699.45
AUGUST RM 84699.45
SEPTEMBER RM 81967.22
OCTOBER RM 84699.45
NOVEMBER RM 81967.22
DECEMBER RM 84699.45

TOTAL SALES : RM 1000000

4

II) FORECAST PURCHASES RM 31338.52
RM 29316.68
JANUARY RM 31338.52
FEBRUARY RM 30530.44
MARCH RM 30530.44
APRIL RM 30530.44
MAY RM 31338.52
JUNE RM 31338.52
JULY RM 30530.44
AUGUST RM 31338.52
SEPTEMBER RM 30530.44
OCTOBER RM 31338.52
NOVEMBER
DECEMBER RM 370000
TOTAL PURCHASES

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d) Cookies Recipe

Ingredient for 1 jars 350g

½ cup Castor sugar RM 1.00
½ cup Light brown sugar RM 1.00
½ cup Butter (At room temperature) RM2.00
1 Nos Egg (Medium size, beaten) RM 0.50
1 teaspoon Vanilla extract RM1.00
Dry Ingredients:

¼ cup All-purpose flour RM 1.00
½ teaspoon Baking soda RM 0.50
1 tablespoon Corn starch RM 0.50
½ teaspoon Sea salt RM 0.50
1 cup Toasted hazelnut RM 1.00
1 ½ cups Chocolate chips RM 1.10

1. Place all dough ingredients into a large bowl. Mix it evenly until a sandy texture.
2 .Sieve all dry ingredients into the dough mixture and mix evenly until well combined.
3. Add toasted hazelnuts and chocolate chips into the dough mixture and mix evenly with a spatula.
4. Shape the dough into a ball using ice-cream scoop. Roll ball gently with hands and place it on a
baking tray lined with baking paper.
5. Place it in fridge to chill for 1-2 hours till firm. Pre heat oven at 170’c.
6. Transfer chilled ball dough to another baking tray and bake cookies for about 15-18 minutes
7. Leave it cool and ready to serve.

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ii) FINANCIAL STATEMENTS

Trial Balance Jantan Cookies

Particular Debit(RM) Credit(RM)

Inventory as at 1 October 2019: 50000
8000
-Raw material 21000
1 000 000
-Finished goods 38900 64000
357800
-Work in progress 13500
1479800
Direct Labour 180000

Indirect Labour 145000

Royalties 7000

Carriage Inward 3500

Purchases of raw materials 370000

Machinery (cost) 280000

Accumulated depreciation machinery

Office equipment(cost) 20000

Accumulated depreciation office equipment

General Factory Expenses 31000

Electricity 7500

Salaries 13700

Administration Salaries 44000

Salesman Salaries 30000

Salesman Commission 11500

Rent 12000

Insurance 4200

General Administration Expenses 13400

Bank Charges 2300

Discount Allowwed 4800

Carriage Outwards 5900

Sales

Account Receivable 142300

Account Payable

Bank 16800

Cash 1500

Drawing 60000

Capital

1479800

Additional Information:

1.Inventory as at 30 September 2020, Raw Material RM 24000, Finished Goods RM40000,
Work in progress RM 15000

2. Electricity, Rent, Insurance are to be apportioned: Factory 5/6 , Administration 1/6

3.Depreciation on Machinery and Office Equipment at 10% per annum on cost.

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a) MANUFACTURING ACCOUNT

Jantan Cookies RM
Manufacturing Account For The Year Ended 30 September 2020 21000

RM 370000
Inventory of raw materials at 1 oct 2019 35000
Add: Purchases of Raw Materials
394500
Carriage Inwards (24000)
370500
Less: Inventory Raw Materials at 30 September 2020 31000 180000
Cost of raw Material consumed 6250
Direct Labour 7000
Royalties 13700 557500
PRIME COST 10000
Indirect manufacturing cost: 237450
General Factory Expenses 3500 794950
Electricity 28000
Salaries 145000 13500
Rent 808450
Insurance (15000)
Depreciation of machinery 793450
Indirect Labour 158990
952440
TOTAL PRODUCTION COST
Add: Opening work in progress

Less: Closing work in progress
PRODUCTION COST OF COMPLETED GOODS
Manufacturing profit (20%x 794950)
TRANSFER PRICE OF FINISHED GOODS

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b) STATEMENT OF PROFIT OR LOSS

Sales Jantan Cookies

Statement Of Profit or Loss year For The Year ended 30 September 2020

RM RM RM
1000000

Less: Cost of Goods Sold 38900
Inventory of finished goods 952440
Add: Transfer Price of Finished Goods 991340
(40000)
Less :Closing Inventory of finished goods
(951340)
Gross Profit 48660
Factory Profit 158990

Administration Expenses 44000
Administration salaries 2000
Rent 700
Insurance 13400
General Expenses 1250
Electricity 2000
Depreciation of office equipment
(63350)

Selling and distribution expenses 30000 (52200)
Salesman salaries 11500
Salesman commission 5900
Carriage outwards 4800
Discount allowed

Financial Charges :- (2300)
Bank Charges

Net profit 89800

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C) STATEMENT OF FINANCIAL POSITION

Jantan Cookies

Statement of Financial Position as at 1 October 2019

Non current asset RM RM RM
Machinery
cost accumulated net book value
depreciation
280000 202000
(78000) 10000
212000
Office Equipment 20000 (10000)
239600
Current Asset 24000 451600
Closing Inventories : 40000
-Raw material 15000
-Finished goods 142300
-Work in progress 16800
Account Receivable 1500
Bank
Cash

TOTAL CURRENT ASSET

Financed by: 357800 387600
Capital 89800
Add: Net Profit 64000
447600 451600
Less :Drawing (60000)

Current Liabilities 64000
Account Payable

TOTAL EQUITY AND LIABILITIES

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CONCLUSIONS

As a conclusion, to produce a good product, every moves and methods must
be taken in the correct procedure. From the types of product, the materials used
and the quality to serve to the consumers. It is important to choose the cheapest
price of materials to minimize our cost. The availability of components, price and so
on until the product is designed perfectly. The most crucial aspect is the
manufacturing portion, which include the product growth and the prototype
validation. Also, we need to consider the risks and the objective evaluation right
before staging.

Jantan Cookies Enterprise has built its own stand-alone branding and their
products has recognised by the locals. The locals really enjoy the product as their
responses overall are positive. The quality of our product is far better than certain
product in the market as we produce much healthier ingredients to prevent our
people from health problems such as high blood pressure and diabetes. It is true
that there are many obstacles for us to keep moving forward, but thank God we
managed to prove that we can make it to the top. We are hoping that our business
will remain as the top local food product and we will struggle to spread it beyond
borders and nations.

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a) Reference

1) BUKU TEKS ACC1023 KOLEJ PROFESIONAL MARA BERANANG, MAZAFATON
MOHMAD

2) RECIPE
https://www.dearnestle.com.my/recipe/kitkat-nutty-
cookies?gclid=Cj0KCQiAifz-
BRDjARIsAEElyGKeqFD1AvBz2OZR4QkruWzwF5kYiXnuFLDGRN-
CWt8E6rx5ytrPIkcaAtMUEALw_wcB&gclsrc=aw.ds

3) https://www.toppr.com/guides/accounting-and-auditing/preparation-of-
final-accounts-of-sole-proprietor/manufacturing-account/

b) Appendices

PROBLEM FACED

The question is a little bit hard for me and take time to understand the question
because. We have to create amount our self but have to balance at the end. Its
really hard because we have to make a detail amount and the amount have to
related with other item.. it’s like we want to create company in reality so we
have make the best financial.

COMMENT
But after we make a discussion together slowly we understand the question and
it make we learn a big something new which is to create company is not easy at
all. It have a high effort to make it

SUGGESTION

After at all, I think this question should be general to any other type of company,
not as specific company such as only cookies company. If general question is
given, it will make our work a little easier.

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