Code 358 - Cost Accounting and x PRELIMS_COST-ACTNG.pdf (3) Messenger X https://twitter.com X C usl-tuguegarao.neolms.com/student_take_quiz_assignment/start/31097576 A Code 358 - Cost Accounting and Control 2 Q Marion Tombaga Item 5 of 5 18 Points Status Start Time left: 57:29 Fill in the blanks / identification: Due: Feb 22, 12:00 pm Assessments Pop up instructions BLACKPINK Corporation had the following account balances: Teachers Raw Material Inventory Items Beg. Bal. 30,000 Credits Item 1 Students Debits 420,000 Item 2 End. Bal. 60,000 Item 3 Portfolio Item 4 Shortcuts Manufacturing Overhead Item 5 Debits 385,000 Credits End of quiz USL Library WIP Inventory Get Help Beg. Bal. 70,000 Credits 810,000 Direct Material 320,000 110,000 Overhead 400,000 End. Bal. Wages Pavable O 11:00 AM O W X 2/22/2022Code 358 - Cost Accounting and x PRELIMS_COST-ACTNG.pdf (3) Messenger X https://twitter.com X C usl-tuguegarao.neolms.com/student_take_quiz_assignment/start/31097576 A Code 358 - Cost Accounting and Control # 2 Q Marion Tombaga v Wages Payable Debits 179,000 Beg. Bal. 10,000 Credits 175,000 End. Bal. 6,000 Finished Goods Inventory Beg. Bal. 40,000 Credits ? Debits End. Bal. 130,000 Cost of Goods Sold Debits Required: a. What was the cost of raw material put into production during the year? b. What was the cost of indirect material put into production? c. What was the cost of indirect labor incurred? d. What was the cost of goods manufactured for the year? e. What was the cost of goods sold for the year (before considering under- or overapplied overhead)? f. If overhead is applied to production on the basis of direct material, what rate was in effect during the year? (e.g. 90%) g. Was manufacturing overhead under- or overapplied? By how much? (e.g. 10000 overapplied) h. Compute the ending balance in the Work in Process Inventory account. Assume that the account consists entirely of anods started during the vear If @32 000 of this balance is direct material cost how much of 11:00 AM 2/22/2022Code 358 - Cost Accounting and x PRELIMS_COST-ACTNG.pdf (3) Messenger X https://twitter.com X C usl-tuguegarao,neolms.com/student_take_quiz_assignment/start/31097576 A Code 358 - Cost Accounting and Control # 2 Q Marion Tombaga v year? (e.g. 90%) g. Was manufacturing overhead under- or overapplied? By how much? (e.g. 10000 overapplied) h. Compute the ending balance in the Work in Process Inventory account. Assume that the account consists entirely of goods started during the year. If P32,000 of this balance is direct material cost, how much of it is direct labor cost? Manufacturing overhead cost? a. direct labor - b. manufacturing overhead - O w x O 11:00 AM 2/22/2022