Q3. Iron Sheets Company had the following information for the month of June 2021.

Sales

Purchases

Sales and administrative expenses

V Factory overhead

V Direct labor

Shs.

257,000

92.000

79,000

37,000

25.000

Work in process, June 1

22,000

Work in process, June 30

Raw Material inventory, June 1

Raw Material inventory, June 30

Finished goods inventory, June 1

Finished goods inventory, June 30

18.500

6.000

8,000

21,000

25,000

Prepare the following:

A manufacturing account (10 Marks)

An income statement for the month ended June 30, 2021 (6 Marks)

The inventory section of the statement of financial statement. (4 Marks)