BridleLtdisasmallmanufacturingcompanyproducingleatherstrapsandother security products.

Themostrecentbusinessincomestatementisshown below.

BridleLtd-Tradingaccount

Forthe yearended31stMarch2013

Salesturnover	285,000
Costofsales	(213,300)
Grossprofit:	71,700

Otherinformation:

• Rawmaterialsopeninginventorywasvaluedat3,000andrawmaterials purchaseswere28,000.Thetotalcostofrawmaterialsconsumedwas

27,800.

• Thecostofdirectlabourwas90,000andtotalproductionprimecostwas

135,800(includingdirectexpenses)

• Indirectproductionoverheadswere80,000(includingmachinerydepreciation of 20,000)
• Openingandclosingstocksofwork-in-progressinventorywasvaluedat

6,000and6,500respectively

• Openingandclosingstocksoffinishedgoodsinventorywerevaluedat12,000 and 14,000 respectively

Required:

1. Prepare the manufacturing account of Bridle Ltd for the year ended 31stMarch 2013 and reconcile your work to the cost of sales value provided above.