SEBLIED FOLLUUITS UI MUUre Company are given below we just completed year. Raw Materials Debit Credit Balance 1/1 Debita 16,000 Credits 122,000 Manufacturing Overhead Debit Credit Debits 233,800 Credits Balance 12/31 26,000 Work in Process Factory Wages Payable Debit Credit Debit Credit Balance 1/1 21,000 Credits 473,000 Debits Direct materials 91,000 Direct labor 153,000 187,000 Balance 1/1 Credits Balance 12/31 9,500 182,000 4,500 Overhead 244,800 Balance 12/31 2 Finished Goods Cost of Goods Sold Debit Credit Debit Credit Balance 1/1 Debits 41,000 2 Credits Debits Balance 12/31 61,500 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? 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?