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Davis Manufacturing Company Had the Following Data

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Davis Manufacturing Company had the following data:


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 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

Correct Answer:

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(a)Sales revenue = $33,000 + $625,000 - ...

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