Yasmin opened a garment factory on 1 May 2016. She provided the following information.
$ On 1 May 2016 Cost of factory machinery 33000, Cost of office furniture and equipment 7500, Cost of tools 2000, For the year ended 30 April 2017, Revenue 112640, Purchases of raw materials 31100, Purchases of finished goods 15700
Wages and salaries
Factory operatives 31500
Factory supervisors 11760
Office and sales staff 33200
General expenses
Factory 3340
Office 1950
Rates
Factory 5500
Office 2500
At 30 April 2017
Inventory
Raw materials 3250
Work in progress 2720
Finished goods 6700
Value of tools 730
Wages accrued
Factory operatives 900
Office and sales staff 950
Additional information
1 No additional non-current assets were purchased during the year.
2 The factory machinery is to be depreciated at 20% per annum on cost.
3 The office furniture and equipment is to be depreciated at 15% per annum on cost.
4 The tools are to be revalued at the end of each financial year.REQUIRED
(a) Prepare the manufacturing account for the year ended 30 April 2017.