please answer questions 1-5 and show solutions, please

1 Selected ledger accounts for Serenade Processing Company 2 are given below for the year ended October 31, 2021: Required: You have the option of doing some or all of your calculations with the use of the above t-accounts, or cell reference your calculations directly to the amounts provided within the t-accounts. 3 4. 1 What was the cost of indirect materials put into production during the year? 5 $ Open Debits Raw Materials 20,000 630,000 601,080 Credits 6 2 What was the cost of goods manufactured for the year? 7 8 Close $ 48,920 3 How much of the factory labour cost for the year consisted of indirect labour? 9 10 4 What was the balance in the manufacturing overhead account? Was manufacturing overhead underapplied or overapplied? 11 12 WIP - Mixing Department $ 50,000 330,000$ 860,000 Credits 200,000 400,000 $ 120,000 Open Direct materials Direct labour Applied Overhead Close 13 5 What was the cost of goods sold for the year (before considering underapplied or overapplied overhead)? 14 15 16 17 18 19 WIP - Finishing Department $ 60,000 860,000 200,000 $1,355,940 Credits 120,000 240,000 Open Transferred in Direct materials Direct labour Applied Overhead 20 21 22 A B F G H H 19 20 D E 860,000 200,000 $1,355,940 Credits 120,000 240,000 124,060 Transferred in Direct materials Direct labour Applied Overhead Close 21 22 23 $ 24 25 26 $ Finished Goods 40,000 1,355,940 1,265,940 Credits 130,000 Open Debits Close 27 28 $ 29 30 Manufacturing Overhead $ $ 686,400 640,000 Credits 31 Debits 32 33 Close $ 46,400 Close 34 35 36 37 Factory Wages Payable $ 10,000 Open 389,000 382,840 Credits Debits 38 39 40 $ (963,100) Close A B D E F G 32 33 Close $ 46,400 Close 34 35 36 Factory Wages Payable $ 10,000 Open 389,000 382,840 Credits 37 Debits 38 39 40 $ (963,100) Close 41 42 Cost of Goods Sold 43 $ 44 Open Debits Close 1,265,940 45 $ 1,265,940 46 47 48