The Minty Alley is a manufacturer of herbal body wash. The firm has provided the following details for $2022$ :

DETAILS Dr Cr

Purchases of Indirect Material $230,000$

Direct Expenses $30,000$

Factory General Expenses $40,000$

Opening Stock of Indirect Materials $20,000$

Loan Interest Paid $40,000$

Capital $850,000$

Opening stock of Raw Material $70,000$

Carriage In on Raw Material $6,500$

Commission Income $40,000$

Rent Income $75000$

Purchases of Raw Material $640,000$

Opening Stock of WIP $22,000$

Opening Stock of Finished Goods $45,000$

Wages $300,000$

Insurance $50,000$

Utilities $80,000$

Property Plant and Equipment PPE $950,000$

Motor Vehicle $800,000$

Prov for Depn PPE $125,000$

Prov for Depn Motor Vehicle $24,000$

Provision for Unrealized Profit $12,000$

Provision for Bad Debts $8,000$

Debtors $65,000$

Bank $240,000$

Creditors $95,500$

$10\%$ Loan $500,000$

Sales $1,500,000$

Return Inwards $6,000$

Drawings $30,000$

Cash $55,000$

$34695003469500$

The following additional information is also provided:

$1.$ Closing stock

Raw material $65,000,$ Indirect Material $35,000.$ Work in Progress $21125,$ Finished Goods $93,500$

$2.$ Wages owing by $60,000,$ insurance prepaid by $10,000$

$3.$ Depreciation is to be charges on the non current assets as follows

Property plant and equipment $5\%$ on the reducing balance Motor vehicle $10\%$ on the straight line basis. All depreciation charges are to be applied equally in the factory and the office

$4.$ The provision for bad debts is to be adjusted to $10\%$ of the debtors

$5.$ The commission income is owing by $10,000$ while the rent income is prepaid by $15,000$

$6.$ The goods produced are to be marked up by $10\%$ in the factory before being transferred as finished goods

$7.$ The wages is to be applied $50\%$ to the office, $30\%$ indirectly to the factory, and $20\%$ directly in the factory

$8.$ Apportion the insurance and the utilities cost $60\%$ to the factory and the remainder to the office