Problem 2-21A T-Account Analysis of Cost Flows [LO2-1, LO2-5, LO2-6, LO2-7] Selected T-accounts for Moore Company are given below for the just completed year: Raw Materials Manufacturing Overhead Credits Debits 214,000 Credits Bal. 1/1 Debits 38,000 420,000 Bal. 12/31 56,000 Work in Process Debits Factory Wages Payable 173,000 Bal. 1/1 Credits Credits Bal 1/1 Direct materials 76,000 325,000 460,000 19,000 181,000 Direct labor Overhead 155,000 248,000 Bal. 12/31 27,000 Bal. 12/31 ? Finished Goods Cost of Goods Sold Bal. 1/1 Debits 41,000 ? Credit Debits Bal. 12/31 132,000 Required: 1. What was the cost of raw materials put into production during the year? Cost of raw materials 2. How much of the materials in (1) above consisted of indirect materials? Indirect materials 3. How much of the factory labor cost for the year consisted of indirect labor? Indirect labor cost 4. What was the cost of goods manufactured for the year? Cost of goods manufactured 5. What was the cost of goods sold for the year before considering underapplied or overapplied overhead)? Cost of goods sold 6. If overhead is applied to production on the basis of direct labor cost, what rate was in effect during the year? (Round your percentage answer to 2 decimal (i.e., 0.1234 needs to be considered as 12.34.)) The predetermined overhead rate was % of direct labor cost 7. Was manufacturing overhead underapplied or overapplied? By how much? Manufacturing overhead was by 8. Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,700 of this balance is direct labor cost, how much of it is direct materials cost? Manufacturing overhead cost? (Round your predetermined overhead rate percentage and final answers to 2 decimal places.) Ending balance in the work in process Direct materials cost Manufacturing overhead cost