Gce Model Questions Vol1 2021 Financial Accounting Question 35

The following incomplete records pertain to a manufacturing firm for the year ended 31 March:\n\n- Opening stock of raw materials: \(£9,000\)\n- Purchases of raw materials: \(£24,000\)\n- Returns to suppliers: \(£1,200\)\n- Closing stock of raw materials: \(£7,500\)\n- Opening work‑in‑progress (WIP): \(£5,000\)\n- Closing WIP: unknown (X)\n- Opening finished goods: \(£8,000\)\n- Closing finished goods: \(£9,200\)\n- Direct labour cost: \(£15,000\)\n- Manufacturing overhead is applied at 150 % of direct labour cost.\n- Sales: \(£80,000\)\n- Gross profit is 30 % of sales.\n- Administrative expenses: \(£13,200\)\n- Depreciation on plant: \(£4,000\)\n- Net profit for the year: \(£6,800\)\n\nUsing the above information, calculate the amount of closing work‑in‑progress (X).