1. The following data are actual cost information relating the manufacturing activity of Bomber Company during the just ended year:

Inventories:

Raw materials, beginning GHS20,000

Raw materials, ending GHS25,000

Work-in-process, beginning GHS15,000

Work-in-process, ending GHS23,000

Costs:

Purchases of raw materials GHS100,000

Direct labour cost (10,000 hours @ GHS7) GHS70,000

Utilities, factory GHS8,000

Factory supervisors salary GHS4,000

Depreciation of factory machinery GHS7,000

Insurance, factory GHS8,000

The company uses a plant-wide predetermined overhead rate to apply overhead to jobs on the basis of direct labour hours. At the beginning of the year, the firm estimated that 30,000 direct labour hours would be required for the periods estimated production level. The firm also estimated GHS90,000 in manufacturing overhead.

Required:

1. Prepare a schedule of cost of goods manufactured.
2. Determine sales revenue if the firm charges a profit margin of 20 percent.