e sent cu B IC GD E18 E- 2 MINIMES VID 4 5 Ex. 1. A wooden chair manufacturing firm produced 1200 units of rocking chairs in year 2017. The material purchased for this amounted to 15,00,000. In the workshop, where the rocking chairs are made, 10 workers and 1 supervisor work throughout the year. There is one workshop manager, who looks into the administrative work also. It can be said that 50% of his time is spent for administration and 50% for manufacturing. The workers are paid a salary of 6,000 a month and supervisors are paid * 10,000 a month and the manager gets a salary of 20,000 a month. In the factory some equipments and machineries are used, whose depreciation comes around 60,000 per annum. The details of other expenses incurred during the year 2017 are given below. Maintenance of machinery and equipment in the factory 6,000 Electricity consumed: Factory 24000 Office 25000 Telephone and stationary expenses incurred in the office 21000 Depreciation of office furniture 30,000 Selling and distribution expenses R12,000 During the year 1000 rocking chairs are sold for 5,000 each. Material worth 1,50,000 has not been used, remains as closing inventory of raw material Required: 1. Draw a Cost flow chart with numerical figures at appropriate places 2. Find out: () cost of goods sold, () closing value of inventory, () Profit or loss made during the