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Please help, requirements 1-8. Thank you! Selected T-accounts of Moore Company are given below for the just completed year: ? Bal. 1/1 Debits Bal. 12/31
Please help, requirements 1-8. Thank you!
Selected T-accounts of Moore Company are given below for the just completed year: ? Bal. 1/1 Debits Bal. 12/31 Raw Materials 35,000 Credits 160,000 45,000 Manufacturing Overhead 188,400 Credits Debits ? . ok 530,000 Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Debits Work in Process 40,000 Credits 110,000 210,000 218,400 ? Factory Wages Payable 225,000 Bal. 1/1 Credits Bal. 12/31 Finished Goods 60,000 Credits ? 90,000 Cost of Goods Sold 2 19,000 220,000 14,000 2 Bal. 1/1 Debits Bal. 12/31 Debits Required: 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer. 6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? 7. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Reg 1 to 5 Reg 6 Reg 7 Req B 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer. Show less 1. Cost of raw materials 2. Indirect materials 3. Indirect labor cost 4. Cost of goods manufactured 5. Unadjusted cost of goods sold Reg 13 Req6 > Debits Bal. 12/31 90,000 Cost of Goods Sold Debits Required: 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in 6. If overhead is applled to production on the basis of direct labor cost, what predetrmined overhead rate was in effect during the year? 7. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Req 1 to 5 Reg 6 Reg 2 Reg 8 If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? The predetermined overhead rate was % of direct labor cost Debits 19,000 220,000 14,000 225,000 Bal. 1/1 Credits Bal. 12/31 Finished Goods 60,000 Credits 2 90,000 Cost of Goods Sold 2 Bal. 1/1 Debits Bal. 12/31 Debits Required: 1. What was the cost of raw materials used in production during the year? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost for the year consisted of indirect labor? 4. What was the cost of goods manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer 6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? 7. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Reg 1 to 5 Reg 6 Reg 7 Reg 8 Was manufacturing overhead underapplied or overapplied? By how much? Manufacturing overhead was by 7. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Req 1 to 5 Reg 6 Req? Reg 8 Compute the ending balance in Work in Process. Assane that this balance consists entirely of goods started during the year. If $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Ending balance in the work in process Direct materials cost Applied overhead cost Step by Step Solution
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