Question
Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, January 1 $ 25,700 Beginning Raw Materials, January 1 37,100 Beginning Work
Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, January 1 $ 25,700 Beginning Raw Materials, January 1 37,100 Beginning Work in Process, January 1 111,900 Direct Labor for the current year 276,900 Ending Finished Goods, December 31 24,000 Ending Raw Materials, December 31 41,050 Ending Work in Process, December 31 122,200 Material Purchases for the current year (including $23,000 of indirect material) 305,800 Required: Compute direct material used. Compute applied overhead if the company applies overhead at a rate of 0.91 (91%) of direct labor cost. Compute total manufacturing cost. Compute cost of goods manufactured. Compute cost of goods sold.
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started