Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 Beginning Raw Materials, 1/1/18 Beginning Work in Process, 1/1/18 Direct Labor for 2018 Ending Finished Goods, 12/31/18 Ending Raw Materials, 12/31/18 Ending Work in Process, 12/31/18 Material Purchases for 2018 (including $25,000 of indirect material) 1 2. 3 Required: 1. Compute direct material used. 2. Compute applied overhead if the company applies overhead at a rate of 0.95 (95%) of direct labor cost. 3. Compute total manufacturing cost. 4. Compute cost of goods manufactured. 5. Compute cost of goods sold. 4 5 $ Direct Material Used Applied Overhead Total Manufacturing Cost Cost of Goods Manufactured Cost of Goods Sold 26, 100 37,500 112,300 277, 300 24,400 41,250 122,600 306, 200

Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 Beginning Raw Materials, 1/1/18 Beginning Work in Process, 1/1/18 Direct Labor for 2018 Ending Finished Goods, 12/31/18 Ending Raw Materials, 12/31/18 Ending Work in Process, 12/31/18 Material Purchases for 2018 (including $25,000 of indirect material) 1 2. 3 Required: 1. Compute direct material used. 2. Compute applied overhead if the company applies overhead at a rate of 0.95 (95%) of direct labor cost. 3. Compute total manufacturing cost. 4. Compute cost of goods manufactured. 5. Compute cost of goods sold. 4 5 $ Direct Material Used Applied Overhead Total Manufacturing Cost Cost of Goods Manufactured Cost of Goods Sold 26, 100 37,500 112,300 277, 300 24,400 41,250 122,600 306, 200

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...

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