4 (18 Marks: 32 minutes) The following list of balances is provided to you by Meke Manufacturers: 01 January 2019 31 December 2019 Raw material (direct) - inventory Raw material (indirect) - inventory Raw material (direct) purchased cash 15.000 12.000 7.000 4.000 40.000 Raw material (indirect) purchased cash Freight on direct material paid cash Freight on indirect material paid cash 6.000 3.000 1.000 Work in process Finished products 11 000 9.000 14 000 4.000 Direct labour paid cash 50.000 Direct labour in arrears 3.000 5.000 51.000 YOU ARE REQUIRED TO PREPARE THE FOLLOWING LEDGER ACCOUNTS: 66 a) Direct material account (5 marks) b) Indirect material account (5 marks) Labour account (4 marks) Explain the concept of unrealised profits and when it may be applied. (4 marks) ****End of paper**** 921 2078 2019