The following balances were taken from the trial balance of G Northfield as at 31 December 2004. From this data, construct the manufacturing account and statement of comprehensive income for the year ended 31 December 2014.

Additional information:
1 Inventory as at 31 March 2014 was valued as follows:

2 Factory profit is calculated as 25% of production costs.
3 As at 31 March 2014:
Indirect wages accrued were £1,250 Rent and rates prepaid were £420 4 Heating and lighting was apportioned to the factory and the office in the ratio of 2:1 5 Rent and rates was apportioned to the factory and the office in the ratio of 3:2 6 Non-current assets were to be depreciated as follows:
Machinery: 15% on cost Equipment: 20% using reducing balance.

Transcribed Image Text:

Inventory as at 1 April 2013: Raw materials Work-in-progress Finished goods Manufacturing wages Purchases of raw materials Indirect wages Factory power Heating and lighting Machinery at cost 11,540 7,890 15,680 99,600 86,500 45,680 15,340 21,340 89,000 Equipment at cost 34,000 Provision for depreciation: Machinery 12,240 Provision for depreciation: Equipment 18,500 Sales 325,000 Royalties 5,600 Administrative wages 18,100 Rent and rates 10,400 Provision for unrealised profits on unsold inventory 3,136