From the following information, calculate managerial remuneration at the rate of 10% of the Gross profit: (5 Marks) Particulars Amount Particulars Amount To Salaries & wages 1,30,000 By Gross Profit 33,40,000 To Repairs 60,000 To Profit on sale of plant 3,40,000 To Depreciation (including Development rebate Rs.15,000) 2,20,000 (Cost Rs.6,00,000; WDV Rs.3,00,000; Amount realised out of Sale Rs.6,40,000) To General Expenses 50,000 By Subsidy from Government 80,000 To Loss on sale of investment 40,000 To Scientific research (new lab setup) 2,06,000 To Donation to charity 70,000 To Interest on Debentures 70,000 To Debenture trustee remuneration 30,000 To Directors' fee 24,000 To Income tax 10,20,000 To Proposed dividend 10,20,000 To Balance c/d 8,20,000 37,60,000 37,60,000