Illustration 6 From the following particulars prepare cost sheet and also calculate the percentage of profit. Raw material consumed $70,000 Carriage inwards $2,000 Stock of finished goods on 30 September: S3,800 Factory rent $2,400 Bad debts $ 440 Printing and stationary S620 Legal expenses $350 Carriage outwards S1540 Indirect materials S560 Power S 4600 Depreciation of furniture S160 Postage expenses $465 Repairs of plant and machinery S1200 Sales man's expenses $3,400 Advertising $500 Direct wages $85,000 General Manager's salaries S36,000 Factory Manager's Salaries 518,000 Depreciation on plant and machinery $1240 Audit fee $350 Stock of finished goods on 1 September: 55,500 Sales $120,000 Calculate the percentage of profit