Please answer the following questions relating to Ranjot and Himanshu company accounts ( in thousands of dollars ) Raw Materials Cost of Goods Sold Bal Beg 100 Credits Debits Debits 900 Bal End 152 Manufacturing Overhead Work in Process Debits 2202 Credits Bal Beg 100 Credits 3502 Dir Mat 701 Dir Lab 1000 Overhead BalEnd 2003 Wages Salaries Payable Finished Goods Debits 1300 Bal Beg 200 Bal Beg 100 Credits Credits 1202 Debits Bal End 102 Bal End210 Required What was the cost of raw materials put into production during the year How much of the materials in part (1) consisted of indirect materials How much of the factory labour cost for the year consisted of indirect labour What was the cost of goods manufactured for the year What was the cost of goods sold for the year (before considering under or overapplied overhead) If overhead is applied to production on the basis of direct labour cost, what rate was in effect during the year Was manufacturing overhead under or over applied By how much Compute the ending balance in the work in process inventory account Assume that this balance consists entirely of goods started during the year If $75,200 of this balance is direct labour cost, how much of it is direct material cost Manufacturing overhead cost

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Please answer the following questions relating to Ranjot and Himanshu company accounts ( in thousands of dollars ): Raw Materials Cost of Goods Sold Bal

Please answer the following questions relating to Ranjot and Himanshu company accounts (in thousands of dollars):

Raw Materials

Cost of Goods Sold

Bal Beg.

100

Credits

Debits

900

Bal. End

----------152

Manufacturing Overhead

Work in Process

Debits

2202

Credits

Bal Beg.

100

Credits

3502

Dir Mat

701

Dir Lab

1000

Overhead

BalEnd

2003

Wages & Salaries Payable

Finished Goods

Debits

1300

Bal Beg.

200

Bal Beg.100

Credits ?

Credits

1202

--------

Debits?

---------

Bal End

102

Bal End210

Required:

What was the cost of raw materials put into production during the year?
How much of the materials in part (1) consisted of indirect materials?
How much of the factory labour cost for the year consisted of indirect labour?
What was the cost of goods manufactured for the year?
What was the cost of goods sold for the year (before considering under- or overapplied overhead)?
If overhead is applied to production on the basis of direct labour cost, what rate was in effect during the year?
Was manufacturing overhead under- or over - applied? By how much?
Compute the ending balance in the work-in-process inventory account. Assume that this balance consists entirely of goods started during the year. If $75,200 of this balance is direct labour cost, how much of it is direct material cost? Manufacturing overhead cost?