Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 ................................. $24,100 Beginning

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Manufacturing costs for Davenport Company during 2018 were as follows:

Beginning Finished Goods, 1/1/18 ................................. $24,100
Beginning Raw Materials, 1/1/18 ...................................... 35,500
Beginning Work in Process, 1/1/18 ................................ 110,300
Direct Labor for 2018 .................................................... $275,300
Ending Finished Goods, 12/31/18 ................................... 22,400
Ending Raw Materials, 12/31/18 ..................................... 40,250
Ending Work in Process, 12/31/18 ................................ 120,600

Material Purchases for 2018 (including $15,000 of indirect material) 304,200


Required:

1. Compute direct material used.

2. Compute applied overhead if the company applies overhead at a rate of 0.75 (75 percent) of direct labor cost.

3. Compute total manufacturing cost.

4. Compute cost of goods manufactured.

5. Compute cost of goods sold.

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Managerial Accounting

ISBN: 978-1260413984

4th edition

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

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