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Saved Selected T-accounts of Moore Company are given below for the just completed year: Debits Balance 1/1 Balance 12/31 Debit Raw Materials 20,000 Credits
Saved Selected T-accounts of Moore Company are given below for the just completed year: Debits Balance 1/1 Balance 12/31 Debit Raw Materials 20,000 Credits 130,000 Credit Debits 30,000 Manufacturing Overhead Debit Credit 216,000 Credits Work in Process Debit Credit 25,000 Credits 485,000 95,000 165,000 231,000 2 Balance 1/1 Direct materials Direct labor Overhead Balance 12/31 Factory Wages Payable Debit Credit Debits 195,000 Balance 1/1 Credits 11,500 190,000 Balance 12/31 6,500 Finished Goods Debit Credit Balance 1/1 45,000 Credits 2 Debits 2 Balance 12/31 67,500 Cost of Goods Sold Debit Credit Debits 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?
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