Question
Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18$25,000Beginning Raw Materials, 1/1/1836,400Beginning Work in Process, 1/1/18111,200Direct Labor for 2018276,200Ending Finished
Manufacturing costs for Davenport Company during 2018 were as follows:
Beginning Finished Goods, 1/1/18$25,000Beginning Raw Materials, 1/1/1836,400Beginning Work in Process, 1/1/18111,200Direct Labor for 2018276,200Ending Finished Goods, 12/31/1823,300Ending Raw Materials, 12/31/1840,700Ending Work in Process, 12/31/18121,500Material Purchases for 2018305,100(including $19,500 of indirect material)
Required:
1.Compute direct material used.
2.Compute applied overhead if the company applies overhead at a rate of 0.84 (84%) 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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