Smart Manufacturing Systems Pty Ltd’s accountant recently prepared the following data from the company’s accounting records for the year ended 30 June 2016:

Sales Inventories at 1 July 2015: Raw materials Work in process Finished goods Inventories at 30 June 2016: Raw materials Work in process Finished goods Direct labour Purchases of raw materials Selling expenses

$1200300 75600 53800 94500 72300 51400 97200 114000 324000 118300

Factory overhead is applied at the rate of 240% of direct labour cost.

Required

A. Prepare a cost of goods manufactured statement for the year ended 30 June 2016.

B. What is the company’s cost of sales for the year ended 30 June 2016?

C. What was the company’s gross profit for the year ended 30 June 2016?