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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, January
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 $22,000 of indirect material) $ 25,500 36,900 111,700 276,700 23,800 40,950 122,000 1. Direct Material Used 2. Applied Overhead 3. Total Manufacturing Cost 4. Cost of Goods Manufactured 5. Cost of Goods Sold 305,600 Required: 1. Compute direct material used. 2. Compute applied overhead if the company applies overhead at a rate of 0.89 (89%) 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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