Davis Manufacturing Company had the following data for a recent year: January 1 December 31 Accounts receivable $27,000 $33,000 Materials inventory 22,500 6,000 Work
Davis Manufacturing Company had the following data for a recent year: 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.
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To answer these questions well systematically calculate each part based on the provided data a Compute Sales Revenue all sales were on account Given C...See step-by-step solutions with expert insights and AI powered tools for academic success
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