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All one problem, multiple parts. Thank you! Selected T-accounts of Moore Company are given below for the just completed year: Debits Bal. 1/1 Debits Bal.
All one problem, multiple parts. Thank you!
Selected T-accounts of Moore Company are given below for the just completed year: Debits Bal. 1/1 Debits Bal. 12/31 Manufacturing Overhead 188,480 Credits Raw Materials 35,000 Credits 160,000 45,000 Work in Process 40,000 Credits 110,000 210,000 218,400 530,000 Debits Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Factory Wages Payable 225,000 Bal. 1/1 Credits Bal. 12/31 19,000 220,000 14,000 Cost of Goods Sold Debits Bal. 1/1 Debits Bal. 12/31 Finished Goods 60,000 Credits ? 90,000 Required: 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer. 6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? 7. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $13.950 of this balance is direct labor cost how much of it is direct materials cost? Applied overhead cost? Req 1 to 5 Req 6 Reg 7 Reg 8 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer. Show less 1. Cost of raw materials 2. Indirect materials 3 Indirect labor cost 4. Cost of goods manufactured 5. Unadjusted cost of goods sold Req6 > 5. Vidl was ut uldujusieu LUSIUI youUS SUIU 101 ule yedi: HOL BILIuue diy Ululappe UI UVEidppueu uvereau 6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect year? 7. Was manufacturing overhead underapplied or overapplied? By how much? 3. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Reg 1 to 5 Reg 6 Req 7 Req 8 If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? % of direct labor cost The predetermined overhead rate was year! 7. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Reg 1 to 5 Req 6 Req 7 Req 8 Was manufacturing overhead underapplied or overapplied? By how much? Manufacturing overhead was by below. Reg 1 to 5 Req 6 Req 7 Req 8 Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Ending balance in the work in process Direct materials cost Applied overhead cost Step by Step Solution
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