From the following information prepare Manufacturing, Trading and Profit and Loss account for the year ended 31/12/2012. Show clearly the Prime Cost, Factory Cost of completed Production and Cost of Sales.

GH¢
Stock of raw materials- 1,1/12 25,000
Work in progress 1/1/12 16,000
Stock of finished goods 39,000
Purchases of raw materials 48,000
Carriage inwards 3,700
Carriage outwards 5,000
Direct wages (manufacturing) 25,000
Admin. Salaries 12,500
Hire of special machine for production 5,200
Warehouse expenses 2,300
Supervisor’s wages 6,800
Royalties payable 7,500
Factory electricity 1,600
Heat and light 9,200
Returns outwards 7,600
Bad debts 750
Discount allowed 240
Depreciation on Plant 1,750
Plant – Cost 6,600
Transportation 2,000
Delivery van expenses 850
Rent and rates (factory3/4 office ¼) 1,900
Salesman’s commission 3,000
Profit on the sale of scrap 400
10% Loan 15,000
Bank charges 750
Insurance on plant 1,980
Advertising 5,400
Repairs to plant 10,600
Sales
Stock of raw materials at 31/12/12 13,500
Work in progress at factory cost 15,800
Finished goods 24,700