Davis Manufacturing Company Had the Following Data

question 103

Short Answer

Davis Manufacturing Company had the following data:
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.
Compute:
(a) Sales revenue (all sales were on account)
(b) Cost of goods sold
(c) Cost of goods manufactured
(d) Direct labor used
(e) Direct materials incurred
(f) Factory overhead incurred

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