Grootfontein Textile Limited is a highly mechanised business manufacturing various fabrics. The following information related to the reporting period ended 31 March 2019. Direct manufacturing wages Indirect manufacturing wages Administration salaries Raw materials (1 April 2018) Raw material purchases Raw materials (31 March 2019) Raw material returns Inventory of finished fabric (1 April 2018) Inventory of finished fabric (31 March 2019) Carriage on raw materials purchases Plant and machinery at cost Accumulated depreciation on plant and machinery Factory power Fire insurance Supervisor's salary Repairs and maintenance of machinery Selling and administration expenses Work-in-progress (1 April 2018) Work-in-progress (31 March 2019) N$ 240 000 89 000 36 000 6 800 500 000 5 400 1 200 198 000 191 400 1 200 360 000 30.000 4 200 10 000 25 000 6 000 36 000 5 150 5 550 Additional information: (i). Depreciate plant and machinery at 5% p.a. on cost. Plant and machinery is used exclusively in the factory. (iii). The supervisor spends 80% of his time supervising production and the remainder in administration. Three quarters of fire insurance premiums paid relates to the factory. (iv). Royalty fee for use of fabric design is charged at 20% of fabric produced. The design is patented and licensed to a South African company, it is considered a direct expense. (v). (vi). The total for wages in the trial balance was understated by N$ 15 000. Finished goods are transferred to sales department at cost of manufacturing plus 20%. (vii). An amount of N$ 1 500 for repairs of the factory machinery was wrongly debited to the selling administration expenses. (viii). The fabric produced for the period ended 31 March 2019 was 90 000 metres. YOU ARE REQUIRED TO: 1. Prepare the manufacturing statement of goods manufactured for the year ended 31 March 2019. (14 marks) 2. Calculate the allowance for unrealised profit in closing finished goods as at 31 March 2019. (3 marks) 3. Prepare the statement of financial position showing current assets section only. (3 marks) 5