Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, January 1 Beginning Raw Materials, January 1 Beginning Work in Process, January 1 Direct Labor for the current year Ending Finished Goods, December 31 Ending Raw Materials, December 31 Ending Work in Process, December 31 $ 24,500 35,900 110,700 275,700 22,800 40,450 121,000 Material Purchases for the current year (including $17,000 of indirect material) 304,600 Required: 1. Compute direct material used. 2. Compute applied overhead if the company applies overhead at a rate of 0.79 (79%) of direct labor cost. 3. Compute total manufacturing cost. 4. Compute cost of goods manufactured. 5. Compute cost of goods sold. Answer is complete but not entirely correct. 1. Direct Material Used $ 275,700 2. Applied Overhead $ 217,803 3. Total Manufacturing Cost $ 565,450 4. Cost of Goods Manufactured $ 783,253 5. Cost of Goods Sold S 784,953