1. Putrajaya Steel produced the following balances from manufacturing as at 31.12.2016 Stock at 01.01.2016 Raw Material Work In Progress (factory cost) Finished Goods (Transfer value) Purchase of Raw Material Purchase returns 7,450.00 5,330.00 2,110.00 128,740.00 310.00 Direct Expenses 3,280.00 Returns Inwards Carriage Inwards 1,215.00 1,055.00 Rates 5,250.00 Light heat and Power 3,270.00 Direct Wages 187,240.00 Indirect wages 14,320.00 Telephone 890.00 Factory Repairs 2,215.00 Insurance 1,420.00 Factory salaries 38,000.00 Office Salaries 24,000.00 Sales Salaries 27,435.00