23 On 1 August 2021, Succulent Limited started its manufacturing business. Following information related to its manufacturing activities for the month of August is available: @ Raw materials of Rs. 2.5 million (including 20% indirect material) were acquired, out of which 40% is still unpaid. Total factory payroll for the month amounted to Rs. 4 million, out of which 10% is still unpaid. 20% of the payroll relates to the indirect labor. () Other manufacturing overheads were Rs. 3.6 million which included depreciation of Rs. 0.9 million (iv) Manufacturing overheads are applied at the rate of 150% of direct labor Cost of physical inventory at month end was as follows: 8.3 CEE Direct material Indirect material Work in process Rs. in million 0.6 0.1 1.0 Required: Prepare necessary journal entries in order to record the production and inventory cost in a manufacturing environment. (Narrations are not required) (08)