REC Sep. 1 Illustration 3-2. Operating Statements, Actual Factory Overhoud Olvon. Following data pertain to the operations of Stitch Masters during the month of September 20__ Inventories: Sep. 30 Materials Rs. 6,000 Rs. 7,000 Work in process Rs. 3,000 Rs. 10,000 Finished goods Rs. 5,000 Rs. 15,000 Factory overhead for the month of September 20 Indirect labour Rs. 7,000 Fuel and power 4,500 Heat and light 3.000 Insurance expired 2,000 "Allowance for deprecation 2.500 Rs. 19,000 Other data for the month of September 20 Sales Rs. 180,000 Sales returns Nil Purchases Rs. 73,000 Purchase returns Rs. 2,000 Marketing expenses Rs. 22,000 Admin. expenses Rs. 14,000 Interest on loan Rs. 4,000 Gain on sale of Income tax Rs. 2,500 fixed assets Rs. 3,000 Direct labour Rs. 24,000 Required: Prepare income statement and a supporting schedule for cost of goods manufactured and sold. Afsheen Abrar Total