Crafted Furniture Ltd incurred the following actual costs during the year just ended:

Direct material used...................................$412,500

Direct labour.............................................180,000

Manufacturing overhead..............................378,000

The firm's predetermined overhead rate is 210 per cent of direct labour cost. The inventory balances, on 1 January, were as follows:

Raw material...................................$45,000

Work in process.................................58,500

Finished goods.................................63,000

Each of these inventory balances was to per cent higher at the end of the year.

Required:

1. Prepare a schedule of cost of goods manufactured.

2. What was the cost of goods sold for the year?