The following is the summary of transactions as on 31st December 1991, relating to a special contract completed during the year.

Rs Materials bought from the market 1,500 Materials issued from the stores 500 Wages 2,440 Direct expenses 294 Works on cost—25% of direct wages Office on cost—10% of prime cost Contract price—Rs 6,000 You are required to prepare a contract account keeping in view that material returned amounted to Rs 240.