Question 3 (15 marks) You are the Cost Accountant of Thabani Steel Technologies (Pty) Ltd and your company manufactures various steel products. The following information relates to your company's operations for the year ended 31 May 2021. Balances on 1 June 2020: R 70 000 25 000 Raw materials inventory WIP inventory Finished goods inventory Indirect material (inventory) 34 000 8 000 195 000 170 000 21 000 110 000 45 000 15 000 8 100 7 000 5 500 8 000 Transaction totals for the year ended 31 May 2021: Raw materials issued to the factory Cash purchases of raw materials Railage on raw material purchases (paid in cash) Wages: Direct labour (paid in cash) Indirect labour (paid in cash) Electricity: Factory (paid in cash) Administrative offices (paid cash) Maintenance: Factory (paid in cash) Administrative offices (paid in cash) Insurance: Factory (paid in cash) Administrative offices (paid cash) Distribution costs Advertising Salaries of administrative staff Sales of finished products Cash purchases of consumable stores indirect material) Indirect materials issued to factory Rent paid (factory) Depreciation of factory machinery Cost of sales of finished goods Balances on 31 May 2021: 4 500 13 000 8 500 84 000 685 000 14 000 19 500 50 300 11 230 425 000 Unfinished goods on hand 16 000 7 HMAC200-1-July-Dec2021-SA1-CTM-V.2-03082021 Required: Prepare the following accounts in the general ledger of Thabani Steel Technologies (Pty) for the year ended 31 May 2021 3.1 Direct material 3.2 Work-in-progress (7 marks) (8 marks)