Balance 1/1 Debits Balance 12/31 Debits Debit Raw Materials 31,000 152,000 41,000 Credit Credits ? Manufacturing Overhead Debit Credit 181,900 Credits Work in Process Debit Credit 36,000 Credits 518,000 106,000 198,000 207,900 ? Balance 1/1 Direct materials Direct labor Overhead Balance 12/31 Debit Debits Factory Wages Payable 217,000 Balance 1/1 Credit Credits 17,000 212,000 Balance 12/31 12,000 Finished Goods Debit Credit Balance 1/1 Debits 56,000 Credits ? ? Balance 12/31 84,000 Cost of Goods Sold Debit Credit Debits 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 $12,000 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. Show less