ILLUSTRATION 6 A manufacturing company has disclosed net loss of $48,700 as per their cost accounting records for the year ended 31st March, 2019. However their financial accounting records disclosed net profit of $5,400 for the same period. A scrutiny of data of both the sets of books of accounts revealed the following informations : $ (i) Factory Overheads Under Absorbed 30,500 (ii) Administrative Overheads Over Absorbed 65,000 (iii) Depreciation Charged in Financial Accounts 2,25,000 (iv) Depreciation Charged in Cost Accounts 2,70,000 (v) Income-tax Provision 52,400 (vi) Transfer Fee (Credited in Financial Accounts) 10,200 (vii) Obsolescence Loss Charged in Financial Accounts 20,700 (viii) Notional Rent of Own Premises charged in Cost Accounts 54,000 (ix) Value of Opening Stock: (a) in Cost Accounts 1,38,000 (b) in Financial Accounts 1,15,000 (x) Value of Closing Stock: (a) In Cost Accounts 1,22,000 (b) In Financial Accounts 1,12,500 Prepare a Memorandum Reconciliation Account by taking costing loss as base