Question

Davis Manufacturing Company had the following data: January 1 December 31 Accounts receivable $27,000 $33,000 Materials inventory 22,500 6,000 Work in process inventory 70,200 48,000 Finished goods inventory 3,000 15,000 Collections on account were $625,000. Cost of goods sold was 68% of sales. Direct materials purchased amounted to $90,000. Factory overhead was 300% of the cost of direct labor. a. Compute sales revenue (all sales were on account). $ b. Compute cost of goods sold. $ c. Compute cost of goods manufactured. $ d. Compute direct materials used. $ e. Compute direct labor incurred. $ f. Compute factory overhead incurred. $

          Davis Manufacturing Company had the following data:
January 1
December 31
Accounts receivable
$27,000
$33,000
Materials inventory
22,500
6,000
Work in process inventory
70,200
48,000
Finished goods inventory
3,000
15,000
Collections on account were $625,000.
Cost of goods sold was 68% of sales.
Direct materials purchased amounted to $90,000.
Factory overhead was 300% of the cost of direct labor.
a.  Compute sales revenue (all sales were
on account).
$
b.  Compute cost of goods sold.
$
c.  Compute cost of goods
manufactured.
$
d.  Compute direct materials used.
$
e.  Compute direct labor incurred.
$
f.  Compute factory overhead
incurred.
$

Added by Barbara J.

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