Reference no: EM132988535
Manufacturing costs for Davenport Company during 2018 were as follows:
Beginning Finished Goods, 1/1/18$25,000
Beginning Raw Materials, 1/1/18 36,400
Beginning Work in Process, 1/1/18 111,200
Direct Labor for 2018 276,200
Ending Finished Goods, 12/31/18 23,300
Ending Raw Materials, 12/31/18 40,700
Ending Work in Process, 12/31/18 121,500
Material Purchases for 2018 305,100(including $19,500 of indirect material)
Required:
Question 1. Compute direct material used.
Question 2. Compute applied overhead if the company applies overhead at a rate of 0.84 (84%) of direct labor cost.
Question 3. Compute total manufacturing cost.
Question 4. Compute cost of goods manufactured.
Question 5. Compute cost of goods sold.