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, January 1 Beginning Raw Materials, January 1 Beginning Work in Process,

image

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

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

Step: 3

blur-text-image

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

Managerial Accounting

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

4th edition

1259964957, 1260413985, 1260565440, 978-1260413984

More Books

Students also viewed these Accounting questions

Question

What is annual service level and how is it related to z?

Answered: 1 week ago