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 materials used
(e)Direct labor incurred
(f)Factory overhead incurred
Correct Answer:
Verified
(a)Sales Revenue = $33,000 + $625,000 ...
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