Davis Manufacturing Company had the following data: January 1 December 31 Accounts receivable $27,000 $33,000 Materials...

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.
$

Expert Solution

ekkarill92 answered 1 year ago

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