Q1 The following information for Power Max Ltd for the year ended 31 December 20XX was extracted from the company's records : Rental Depreciation - Office Equipment Plant Utilities Direct Materials, 1/1/XX Finished Goods, 1/1/XX Work in Process, 1/1/XX Direct Materials, 31/12/XX Finished Goods, 31/12/XX Work in Process, 31/12/XX Direct labour Depreciation - Plant Equipment Sales Indirect Labour Direct Materials purchases $'000 3,890 530 550 580 3,300 298 470 2,900 290 10,075 1,980 51,800 172 12,980 Note : 30% of the rental was for administration purposes. Required (a) Prepare Power Max Ltd.'s Cost of Goods Manufactured schedule for the year ended 31 December 20XX. (b) Calculate the Prime Cost and Conversion Cost. (c) Calculate the Gross Profit for the year ended 31 December 20XX