Prepare Contract Account No. 18 for the year ended 31 March 2026, including calculations for total costs and closing balances for direct labour and plant depreciation.

Hey Rammy's — ready when you are. Here are the solutions to your contract costing questions: a) Prepare Contract Account No. 18 for the year ended 31 March 2026. Step 1: Calculate total costs incurred and closing balances. Total Direct Labour Costs = Direct labour costs paid + Direct labour costs accrued = 420,000 + 18,000 = 438,000 Plant Depreciation = Plant transferred to site at cost - Plant written-down value at 31 March 2026 = 200,000 - 148,000 = 52,0