The following information relates to a contract for 12,00,000. (The contractee paying 90% of the value of work done as certified by the Architect and rest on completion of the contract): Material issued for Stores 2,85,000 Materials Purchased for the Contract 91,000 Normal Loss of Materials 1,960 Plant installed at the site 1,76,000 Wages paid to the Workers 4,62,000 Direct Expenses paid for the Contract 53,000 Overhead Expenses paid 39,000 Direct Expenses accrued on 31.3.2004 6,200 of the plant and materials charged to the contract, plant which cost 9,600 and materials costing 8,400 were lost. Work certified 9,70,000. Charge depreciation on plant Prepare Contract Account. 10% p.a