PROBLEM 2-21A T-Account Analysis of Cost Flows [LO2-1, LO2-5, LO2-6, LO2-7] Selected T-accounts of Moore Company are given below for the just completed year: Raw Materials Manufacturing Overhead ? Debits 230,000 Credits ? Bal. 1/1 Debits Bal. 12/31 15,000 Credits 120,000 25,000 Work in Process Factory Wages Payable 470,000 Debits 185,000 Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 20,000 Credits 90,000 150,000 240,000 ? Bal. 1/1 Credits Bal. 12/31 9,000 180,000 4,000 Finished Goods Cost of Goods Sold ? Debits ? Bal. 1/1 Debits Bal. 12/31 40,000 Credits ? 60,000 Required: 1. What was the cost of raw materials put into production during the year? 2. How much of the materials in (1) above consisted of indirect matcrials? 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 cost of goods sold for the year (before considering underapplied or overapplied overhead)? 6. If overhead is applied to production on the basis of direct labor cost, what rate was in effect during the year? 7. Was manufacturing overhead underapplied or overapplied? By how much? 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 $8,000 of this balance is direct labor cost, how much of it is direct materials cost? Manufacturing overhead cost