Problem 3-11 (Static) 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:

Raw Materials
Debit	Credit
Balance 1/1	15,000	Credits	?question mark
Debits	120,000
Balance 12/31	25,000

Manufacturing Overhead
Debit	Credit
Debits	230,000	Credits	?question mark

Work in Process
Debit	Credit
Balance 1/1	20,000	Credits	470,000
Direct materials	90,000
Direct labor	150,000
Overhead	240,000
Balance 12/31	?question mark

Factory Wages Payable
Debit	Credit
Debits	185,000	Balance 1/1	9,000
		Credits	180,000
		Balance 12/31	4,000

Finished Goods
Debit	Credit
Balance 1/1	40,000	Credits	?question mark
Debits	?question mark
Balance 12/31	60,000

Cost of Goods Sold
Debit	Credit
Debits	?question mark

Required:

1. What was the cost of raw materials used in production?
2. How much of the materials in (1) above consisted of indirect materials?
3. How much of the factory labor cost is indirect labor?
4. What was the cost of goods manufactured?
5. What was the unadjusted cost of goods sold? Do not include any underapplied or overapplied overhead in your answer.
6. If overhead is applied to production using direct labor cost, what was the predetermined overhead rate?
7. Was manufacturing overhead underapplied or overapplied? By how much?
8. Compute the ending balance in Work in Process. Assume this balance consists entirely of goods started during the year. If $8,000 of this balance is direct labor cost, how much is direct materials cost? Applied overhead cost?