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:

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: Raw Materials Manufacturing Overhead Bal. 1/1 Debits Bal. 12/31 35,000Credits ?Debits 188,400 Credits 160,00e 45,000 Work in Process Factory Wages Pavable Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 40,000Credits 530,000 Debits 225,000 Bal. 1/1 110,000 210,000 218,400 19,000 220,000 14,000 Credits Bal. 12/31 Finished Goods Cost of Goods Sold ?Debits Bal. 1/1 Debits Bal. 12/31 60,000 Credits 90,000 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 $13,000 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost