C—3

APPENDIX XVll—continued Utilization Branch—Rotorua Conservancy : Statement op Operating Accounts for the Year Ended 31st March, 1949 (Showing Also Figures for the Previous Year) —continued Waipa Box-factory Operating Account £ £ Income. £ £ The net receipts from sales of box-shook for the year after 200,150 allowing for selling and transport expenses were .. .. 171,138 Transfers of processed timber for use in capital and maintenance 776 work. &c., were valued at .. .. .. .. 1,183 200,926 172,321 2,574 (increase) During the year stocks on hand were reduced to the extent of .. 707 The net income derived from production during the year was 203,500 therefore .. .. .. .. .. .. 171,614 Expenses 129,269 The cost of sawn timber used in production was .. .. 109,774 Wages and salaries and allowances for compensation and holiday 24,549 pay totalled .. .. .. . . .. 22,537 Other expenses of production (including power, steam, and waste disposal; maintenance and depreciation of factory buildings, plant, and equipment; and office and general expenses) 21,931 amount to .. .. .. .. .. .. 19,701 175,749 The total expenses incurred in production were .. .. 152,012 Deducting the expenses from the income gives a net profit for £27,751 the year of .. .. .. .. .. .. £19,602 * The disposition of the net profit is shown in the Profit and Loss and Appropriation Accounts. Waipa Wood-preservation Plant Operating Account £ £ Income £ £ The net receipts from the sales of treated produce after allowing 5,201 for transport and selling expenses totalled .. .. 32,915 1,471 Transfers of treated produce were charged out at .. .. 2,158 6,672 35,073 In the course of making the above sales and transfers the value 1,421 (increase) of stocks of treated produce on hand were reduced by .. 3,466 The net income attributable to treatment operations for the 8,093 year was therefore .. .. .. .. .. 31,607 Expenses 1,724 The cost of untreated produce treated during the year was .. 7,876 To this must be added seasoning-yard costs, which were— Wages and salaries and allowances for compensation and 1,031 holiday pay .. .. .. .. •• 3,542 Other expenses, including maintenance and office and general 365 expenses .. .. .. .. .. ■. 1,358 Thus the total cost of operating the seasoning-yard and providing 3,120 seasoned produce for the treatment plant was .. .. 12,776 The expenses of operating the treatment plant were— Wages and salaries and allowances for compensation and 706 • holiday pay .. .. .. .. .. 2,146 2,231 Creosote and other preservatives used .. .. .. 6,717 Other expenses, including power and steam, maintenance* 3,867 and office and general expenses .. .. .. 5,855 9,924 The total expenses for the year were therefore .. .. 27,494 Deducting the expenses from the income gives a net profit for (Loss) £1,831 the year's operations of .. .. .. .. £4,113 The disposition of the net profit is shown in the Profit and Loss and Appropriation Accounts,

84