Raw Materials Manufacturing Overhead -------------------------------------------------------------------------------- Bal. 1/1 30,000 -------------------------------------------------------------------------------- Credits ? -------------------------------------------------------------------------------- Debits 385,000 -------------------------------------------------------------------------------- Credits ? Debits 420,000 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Bal. 12/31 60,000 -------------------------------------------------------------------------------- Work in Process Factory Wages Payable -------------------------------------------------------------------------------- Bal. 1/1 70,000 -------------------------------------------------------------------------------- Credits 810,000 -------------------------------------------------------------------------------- Debits 179,000 -------------------------------------------------------------------------------- Bal. 1/1 10,000 Direct materials 320,000 Credits 175,000 Direct labor 110,000 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Overhead 400,000 Bal. 12/31 6,000 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Bal. 12/31 ? Finished Goods Cost of Goods Sold -------------------------------------------------------------------------------- Bal. 1/1 40,000 -------------------------------------------------------------------------------- Credit ? -------------------------------------------------------------------------------- Debits ? -------------------------------------------------------------------------------- Debits ? -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Bal. 12/31 130,000 -------------------------------------------------------------------------------- Required: 1. What was the cost of raw materials put into production during the year? (Omit the "$" sign in your response.) The cost of raw materials $ 2. How much of the materials in (1) above consisted of indirect materials? (Omit the "$" sign in your response.) Indirect materials $ 3. How much of the factory labor cost for the year consisted of indirect labor? (Omit the "$" sign in your response.) Indirect labor cost $ 4. What was the cost of goods manufactured for the year? (Omit the "$" sign in your response.) Cost of goods manufactured $ 5. What was the cost of goods sold for the year (before considering underapplied or overapplied overhead)? (Omit the "$" sign in your response.) Cost of goods sold $ 6. If overhead is applied to production on the basis of direct materials cost, what rate was in effect during the year? (Omit the "%" sign in your response.) The predetermined overhead rate was % of direct materials cost 7. Was manufacturing overhead underapplied or overapplied? By how much? (Input the amount as a positive value. Omit the "$" sign in your response.) Manufacturing overhead was (Click to select)overappliedunderapplied by $ 8. Compute the ending balance in the work in process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,000 of this balance is direct materials cost, how much of it is direct labor cost? Manufacturing overhead cost? (Omit the "$" sign in your response.) Ending balance in the work in process $ Direct labor cost $ Manufacturing overhead cost $