Balance 1/1 Debits Balance 12/31 Debit Raw Materials 27,000 Credits 144,000 37,000 Manufacturing Overhead Credit Debit Credit Debits 197,480 Credits Work in Process Debit Credit Overhead: Balance 1/1 Direct materials Direct labor Balance 12/31 32,000 Credits 506,000 102,000 186,000 219,480 Factory Wages Payable Debit Credit Debits 209,000 Balance 1/1 Credits 15,000 204,000 Balance 12/31 10,000 Finished Goods Debit Credit Balance 1/1 Debits 52,000 Credits ? Balance 12/31 78,000 Cost of Goods Sold Debit Credit Debits Check my wa Required: 1. What was the cost of raw materials used in production? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost is indirect labor? 4. What was the cost of goods manufactured? 5. What was the unadjusted cost of goods sold? Do not include any underapplied or overapplied overhead in your answer. 6. If overhead is applied to production using direct labor cost, what was the predetermined overhead rate? 7. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume this balance consists entirely of goods started during the year. If $11,000 of this balance is direct labor cost, how much is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Required 1 to 5 Required 6 Required 7 Required 8 1. What was the cost of raw materials used in production? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost is indirect labor? 4. What was the cost of goods manufactured? 5. What was the unadjusted cost of goods sold? Do not include any underapplied or overapplied overhead in your answer. 1. Cost of raw materials 2. Indirect materials 3. Indirect labor cost 4. Cost of goods manufactured 5. Unadjusted cost of goods sold Required 6 > Show less A Complete this question by entering your answers in the tabs below. Required 1 to Required 6 Required 7 Required 8 5 If overhead is applied to production using direct labor cost, what was the predetermined overhead rate? The predetermined overhead rate was % of direct labor cost Complete this question by entering your answers in the tabs below. Required 1 to 5 Required 6 Required 7 Required 8 Was manufacturing overhead underapplied or overapplied? By how much? Manufacturing overhead was by < Required 6 Required 8 Complete this question by entering your answers in the tabs below. Required 1 to Required 6 Required 7 Required 8 Compute the ending balance in Work in Process. Assume this balance consists entirely of goods started during the year. If $11,000 of this balance is direct labor cost, how much is direct materials cost? Applied overhead cost? Ending balance in the work in process Direct materials cost Applied overhead cost < Required 7 Required 8