1 2 The following T-accounts of a manufacturer summarize its production activity for the year. Compute the ending balance in each account, then compute the amount for each of the manufacturing cost flows. 24 Raw Materials Inventory 5 46,000 6 25,500 10,200 Factory Wages Payable 118,500 76,500 42,000 789 Work in Process Inventory 10 25,500 11 76,500 12 99,450 Factory Overhead 161,000 10,200 99,450 42,000 48,650 13 14 15 Finished Goods Inventory 16 161,000 17 129,000 18 19 20 Required: Compute the following amounts. 21 22 Direct materials used 23 Indirect materials used 24 Direct labor used 25 Indirect labor used 26 Cost of goods manufactured 27 28 29 Overhead applied Cost of goods sold (before closing over-or underapplied overhead) Actual overhead incurred 30 The amount of over-or underapplied overhead 31 32 Indicate whether overhead is over- or underapplied. 33 Cost of goods sold (after closing over-or underapplied overhead) 34 33 35 36 Students: Th +