Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 $ 25,800 Beginning Raw Materials, 1/1/18 37,200 Beginning Work in Process, 1/1/18 112,000 Direct Labor for 2018 277,000 Ending Finished Goods, 12/31/18 24,100 Ending Raw Materials, 12/31/18 41,100 Ending Work in Process, 12/31/18 122,300 Material Purchases for 2018 305,900 (including $23,500 of indirect material)

Required:

1. Compute direct material used.

2. Compute applied overhead if the company applies overhead at a rate of 0.92 (92%) of direct labor cost.

3. Compute total manufacturing cost.

4. Compute cost of goods manufactured.

5. Compute cost of goods sold.

The manager of a branch office of banco mexicali observed that during peak hours an average of 20 customers arrives per hour and that there is an average of 6 customers in the branch office at any time. how long does the average customer spend waiting in line and being serviced?

Upscale hotels in the united states recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. a survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the internet and the telephone, to transact business. assume a company's budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. graphically illustrate how a 20 percent decline in the price of business travel would impact this company's budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. is the company allocating resources efficiently? explain.

In its 2016 annual report, caterpillar inc. reported the following (in millions): 2016 2015 sales $38,537 $47,011 cost of goods sold 28,309 33,546 as a percentage of sales, did caterpillar's gross profit increase or decrease during 2016? select one: a. gross profit increased from 26.8% to 28.6% b. gross profit decreased from 28.6% to 26.5% c. gross profit increased from 71.4% to 73.2% d. gross profit decreased from 73.2% to 71.4% e. there is not enough information to answer the question.