McNaughton Tools is a small manufacturing establishment. At the end of the accounting year. February 28, 2004, the following information was available Stocks: March 2003 Raw materials linished Goods Work-in-progress l'aclory Wages (dircc) Factories Salaries Purchases ol Raw malerial Return Outwards l'aclory Power and Fucl Sales Tnsurance Administrative Fxpenses Return Inwards on Finished Gioods Stocks: 28 February, 2004 27 000 35 000 7 500 150 000 25 700 36 300 500 83 200 532 800 4 400 20 000 3 000 Raw malerials linished Goods Work-in-progress 15 600 20 000 13 200 100 000 Machincry al cosl You are given the following additional information: 1. Machinery is lo be deprecia led al thc rale ol. 25% per annum. 2. Factory power and fuel is in arrears of S720 3. Insurance. which is to be divided in lhe ralio 3: 1 belween the laclory and the ollie, is prepaid in the amounl of S200 a. Prepare lhe acoun lor the year ended lebruary 28. 2004, showing the clearly the following: lhe os l raw malerials consined (uscd up) The prime cost ii. Factory overheads iv. e total cost of production (14 marks) b. Prepare a trading, profit and loss account for the year ended February 28, 2004 i. Calculate the gross profit for the sales ratio. ii. Calculate the rate turnover (4 marks) ( mark) (l mark) c