Problem 3-11 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: Bal. 1/1 Debits Raw Materials 32,000 Credits 154,000 Bal. 12/31 Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 42,000 Work in Process 37,000 107,000 201,000 221,100 Bal. 1/1 Debits Bal. 12/31 Required: Debits Manufacturing Overhead 194,100 Credits Credits 521,000 Debits Factory Wages Payable 219,000 Bal. 1/1 17,500 Credits 214,000 Bal. 12/31 12,500 Cost of Goods Sold Debits ? Finished Goods 57,000 7 Credits 85,500 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 $12.250 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost?