Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 Beginning Raw Materials, 1/1/18 Beginning work in Process, 1/1/18 Direct Labor

image text in transcribed
image text in transcribed
Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 Beginning Raw Materials, 1/1/18 Beginning work in Process, 1/1/18 Direct Labor for 2018 Ending Finished Goods, 12/31/18 Ending Raw Materials, 12/31/18 Ending work in process, 12/31/18 Material Purchases for 2018 (including $18,eee of indirect material) $ 24,78e 36,1ee 119,900 $ 275, 9ee 23, eee 40,55e 121,200 384, see Note: The pre-determined overhead rate is 0.81 (81%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue was $1,310,000 and operating expenses were $240,000 for 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a Cost of Goods Manufactured report. DAVENPORT COMPANY Cost of Goods Manufactured Report For the Year 2018 Direct Materials Used in Production Total Current Manufacturing Costs Cost of Goods Manufactured Recured Required 2 > Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 Beginning Raw Materials, 1/1/18 Beginning Work in Process, 1/1/18 Direct Labor for 2018 Ending Finished Goods, 12/31/18 Ending Raw Materials, 12/31/18 Ending work in Process, 12/31/18 Material Purchases for 2018 (including $18,000 of indirect material) $ 24,700 36,100 110,900 $275,9ee 23, eee 40,550 121, 2ee 384,8ee Note: The pre-determined overhead rate is 0.81 (81%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement of sales revenue was $1,310,000 and operating expenses were $240,000 for 2018. Complete this question by entering your answers in the tabs below. Required 1 Required Prepare a Partial Income Statement if sales revenue was $1,310,000 and operating expenses were $240,000 for 2018. DAVENPORT COMPANY Income Statement For the Year 2018 Less: Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods Sold Net Income from Operations

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Transportation Division Department Of Commerce Report On Preliminary Performance Audit Survey

Authors: Montana. Legislature. Office Of The Legi

1st Edition

1245445294, 978-1245445290

More Books

Students also viewed these Accounting questions