From the following particulars, prepare a statement showing the components of total sales and the profit for the year ending on 31 December.

Rs

Stock of finished goods (1 January)

6,000

Stock of raw materials (1 January)

40,000

WIP (1 January)

15,000

Purchase of raw materials

4,75,000

Carriage inwards

12,500

Factory rent, taxes

7,250

Other production expenses

43,000

Stock of finished goods (31 December)

15,000

Wages

1,75,000

Works manager’s salary

30,000

Factory employees’ salary

60,000

Power expenses

9,500

General expenses

32,500

Sales for the year

8,60,000

Stock of raw materials (31 December)

50,000

WIP (31 December)

10,000