Raw Materials Bal. 1/1 23,000 Credits Debits 136,000 Selected T-accounts of Moore Company are given below for the just completed year. Manufacturing Overhead 204,720 Credits Debits Bal. 12/31 33,000 d Work in Process Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 28,000 Credits 494,000 Debits Factory Wages Payable 201,000 Bal. 1/1 98,000 174,000 Credits Bal. 12/31 13,000 196,000 8,000 222,720 Finished Goods Bal, 1/1 48,000 Credits Debits ? Bal. 12/31 72,000 Required: Cost of Goods Sold Debits 71 nces 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 $10,000 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Req 1 to 5 Req 6 Req 7 Req 8 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?