Q-No. 02) The following data is taken from the accounting records of Riaz Manufacturers for the period ended Dec 31, 2020: 1. Purchased direct Material on account for Rs. 351,000 including 17% Sales Tax. 2. Material requisition for production Rs. 260,000 of which 40,000 was used indirectly. 3. Accrued Payroll Rs. 200,000, including payroll for indirect Labor Rs. 20,000. 4. Factory utilities paid Rs. 23,400 including Rs. 3,400 for Sales Tax. 5. Manufacturing cost incurred on account Rs. 160,000. 6. Overhead is applied at the rate of 120% of Direct Labor Cost. 7. Work-In-Process inventory valued on Dec 31 at Rs. 80,000. 8. Finished Goods inventory valued at Rs. 50,000 and rest were sold at Rs. 11,70,000 including 17% sales tax. Required: Record the above transactions in General Journal and close the FOH account