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Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, January 1 Beginning Raw Materials, January 1 Beginning Work in Process,
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 Material Purchases for the current year (including $19,500 of indirect material) Required: 1. Compute direct material used. $ 25,000 36,400 111,200 276,200 23,300 40,700 121,500 305,100 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. 1. Direct Material Used $ 289,900 X 2. Applied Overhead $ 232,008 3. Total Manufacturing Cost $ 798,108 x 4. Cost of Goods Manufactured $ 787,808 5. Cost of Goods Sold $ 787,808
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