Problem 3-11 (Algo) T-Account Analysis of Cost Flows [LO3-2, LO3-3, LO3-4] Selected T-accounts of Moore Company are given below for the just completed year: Balance 1/1 Debits Balance 12/31 Debit Debit Balance 1/1 Direct materials Direct labor Overhead Balance 12/31 Balance 1/1 Debits. Balance 12/31 Debit Req 1 to 5 Raw Materials 24,000 Credits 138,000 34,000 Work in Process 29,000 Credits 99,000 177,000 233,640 1? Finished Goods 49,000 Credits 73,500 Req 6 Credit Credit Credit Req 7 P Debits 497,000 2 Req 8 Debits Complete this question by entering your answers in the tabs below. Debits Debit Debit 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? Debit Manufacturing Overhead 214,640 Credits Factory Wages Payable 203,000 Cost of Goods Sold ? Credit 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 $10,250 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Credit Balance 1/1 Credits Balance 12/31 Credit ? 13,500 198,000 8,500