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Required: 1. What was the cost of raw materials put into production during the year? (Omit the $ sign in your response.) The cost of

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? (Round your answer to 2 decimal places. 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)underappliedoverapplied 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 $32,800 of this balance is direct materials cost, how much of it is direct labor cost? Manufacturing overhead cost? (Round your predetermined overhead rate percentage and final answers to 2 decimal places. Omit the "$" sign in your response.)

Ending balance in the work in process $
Direct labor cost $
Manufacturing overhead cost $
Selected T-accounts for Rolm Company are given below for the just completed year:

Raw Materials Manufacturing Overhead

Bal. 1/1 36,000

Credits ?

Debits 388,000

Credits ?

Debits 450,000

Bal. 12/31 58,000

Work in Process Factory Wages Payable

Bal. 1/1 72,000

Credits 740,000

Debits 177,000

Bal. 1/1 12,000

Direct materials 328,000

Credits 177,000

Direct labor 112,000

Bal. 12/31 12,000

Overhead 410,000

Bal. 12/31 ?

Finished Goods Cost of Goods Sold

Bal. 1/1 45,000

Credit ?

Debits ?

Debits ?

Bal. 12/31 139,000

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