QUESTION 2 (25 MARKS) Below are the selected T-accounts of Kerisi Enterprise for the year ended 31 December 2018: Raw Materials 30,000 Credit Cam 240,000 Bal c/d Bal b/d Debit eras XXX 220,00 50,000 Bal b/d Indirect material Indirect labor Other overhead Manufacturing overhead 40,000 Credit XXX4 ago XXX 320,000 Dwet Labor naterat ovetheall 940,000 Bal b/d Direct Materials Direct Labor Overhead Work in Progress 40,000 Credit 180,000 300,000 480,000 Bal c/d xxx o.ooo 1000.00 Bal b/d Debits Finished Goods 40,000 Credits XXX Bal c/d XXX 120,000 Debit Bal c/d Salaries & Wages Payable 370,000 Bal b/d 8,000 Credit 18,000 360,000 Required: a) Compute the cost of raw materials used for production Raw materials 220.00 (CLO2:PLOI:C3) (2 marks) b) Determine the indirect material cost inclusive in the materials required in (a). Tridiect Material - Rawr noterias - pireerthalerian 10.00 - 40 000 c) Determine the factory labor cost for the year consisted of indirect labor (CLO2:PL01:03) (2 marks) d) Compute the cost of goods manufactured. (CLO2:PLOI:C3) (2 marks) e) Compute the unadjusted cost of goods sold (before considering under applied or over applied overhead). (CLO2:PLO1:C3) (2 marks) f) Determine the predetermined overhead rate if the overhead applied is based on the direct labor cost. (CLO2:PLO1:C3) (4 marks) g) Complete the above T-account of the Manufacturing overhead account. (CLO2:PLO2:C3) (2 marks) h) Compute the over/under applied overhead. (CLO2:PLO2:C3) (2 marks) i) Compute the ending balance in the Work in Process inventory account. (CLO2:PLO2:C3) (3 marks) j) Determine the direct material costs and manufacturing overhead cost if RM8,000 of this balance in (i) is direct labor cost. (CLO2:PLO2:03) (4 marks)