The following list of costs have been extracted from the records of a manufacturing company for the year ending 31st December, 2020. You are required to prepare a statement of cost showing: (a) Cost of raw materials consumed (b) Prime Cost (c) Factory Cost (d) Cost of production (e) Cost of goods sold (f) Total cost of goods sold and profit on sales Description of Cost Ish (000) Description of Cost Tsh (000) 1 Stock of Raw Materials (1-1-2020) 3,000 11 Experiment expenses 400 2 Stock of Raw Materials (31-12-2020) 2,400 3 Purchases of Raw materials 12 Wastage of materials 50 14,000 13 Factory overhead 7,000 5 Stock of work-in-progress (1-1-2020) 1,000 14 Establishment on costs 2,000 6 Stock of work-in-progress (31-12- 800 15 Selling overhead 4,000 2020) 7 Carriage inward 500 16 Distribution overhead 1,000 8 Manufacturing wages 4,000 17 Stock of finished goods (1-1-2020) 1,200 9 Other direct expenses 200 18 Stock of finished goods (31-12-2020) 3,000 1 Indirect wages 0 1,000 19 sales 40,000