Question 2: Allocated Mark: ( 10 ) The following figures have been taken from the books of Mahmood WLL as at 31.12.2020 BD Stock of Raw Materials on 1.1.2020 70,000 Stock of Raw Materials on 31.12.2020 10,000 Purchase of Materials 100,000 Factory Wages 90,000 Factory Expenses 35,000 Establishment Expenses 20,000 Finished Goods Stock on 1.1.2020 30,000 Finished Goods Stock on 31.12.2020 15,000 Sales 400,000 Units manufactured during the year ended 31 December 2020 8,000 Required: (a) Prepare a cost statement for the year ended 31 December 2020. (b) The company is required to quote for the price for supply of 2000 units during the year 2021. The cost of material will increase by 15% and factory labor will cost more by 10% in the year 2021 Required: Prepare a statement showing the price to be quoted to give the same percentage of net profit on sales and was realized during 2020. (10 Morire