E2-9 (Algo) Calculating Cost of Jobs [LO 2-4, 2-6]

Manufacturing costs for Davenport Company during 2018 were as follows:

Beginning Finished Goods, 1/1/18	$	24,800
Beginning Raw Materials, 1/1/18		36,200
Beginning Work in Process, 1/1/18		111,000
Direct Labor for 2018		276,000
Ending Finished Goods, 12/31/18		23,100
Ending Raw Materials, 12/31/18		40,600
Ending Work in Process, 12/31/18		121,300
Material Purchases for 2018		304,900
(including $18,500 of indirect material)

Required:

1. Compute direct material used.

2. Compute applied overhead if the company applies overhead at a rate of 0.82 (82%) of direct labor cost.

3. Compute total manufacturing cost.

4. Compute cost of goods manufactured.

5. Compute cost of goods sold.