Question 6 [18] PRODUCTION COSTS The following information relates to Packard Producers for the year ended 29 February 2020: Balances on 1 March 2019: Raw materials inventory Work-in-process inventory Finished goods inventory R21 888 R18 130 R26 138 Transaction totals for the year ended 29 February 2020: Purchases of raw materials Sales of finished goods Direct labour Factory overheads R188 715 R1 587 300 R197 170 R835 465 Balances on 29 February 2020: Raw materials inventory Work-in-process inventory Finished goods inventory R15 745 R36 850 R63 855 Required: 6.1. Prepare the production cost statement of Packard Producers for the year ended 29 February 2020. (7) 6.2. Prepare the trading statement of Packard Producers for the year ended 29 February 2020. (3) 6.3. Calculate the direct material costs. (4) 6.4. Calculate the cost of finished goods