Phratepak plc is a company which specialises in the manufacture of crates used for the despatch of goods in bulk for the export market.
At 31 December 19_3 the following balances appeared in the company’s books.

(1) Depreciation is to be provided on a straight line basis (one cost) at the following rates per annum.

Required:
Prepare

(a) Manufacturing Account for year ended 31 December 19_3, (9 marks)

(b) Trading and Profit and Loss Accounts for year ended 31 December 19_3, and (16 marks)

(c) Balance Sheet as at 31 December 19_3. (9 marks)
N.B. (1) In the Profit and Loss Account, expenses should be classified under the two separate headings ‘Warehouse expenses’ and ‘Other expenses’.
r (2) All workings must be shown.

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Dr. Cr. Fixed assets at cost: Premises Plant and machinery Tools, equipment etc. Vehicles Provisions for depreciation (at 1 January 19_3): Premises Plant and machinery 370 000 264 000 123 600 79 700 21 400 119 300 Tools, equipment etc. 82 500 Vehicles 25 200 Purchases (less returns): Raw materials 236 150 Consumable stores (used in manufacturing operations) 28 890 Packing cases (see Note 4) 7 430 Wages (see Note 3): Factory (operatives) 101 732 Warehouse (storemen and drivers) 55 207 Rates (see Notes 2 and 3) 62 200 Heating and lighting (see Notes 2 and 3) 12 165 Power (see Notes 2 and 3) 80 073 Insurance (see Notes 2 and 3) 7 600 Directors' fees 15 000