Sed PRACTICE PROBLEMS FOR MID TERM EXAM O Selected T accounts of Moore Company are given below for the just completed year 2 points Skloped ol Raw Materials Manufacturing Overhead Bal. 1/1 33,000 Credits Debits 186, 200 Credits Debits 156,000 Bal. 12/31 43,000 Work in Process Factory Wages Payable Bal. 1/1 38,000 Credits 524,000 Debits 221, Bal. 1/1 18,000 Direct materials 108,000 Credits 216,000 Direct labor 204, eee Bal. 12/31 13,00 Overhead 214200 Bal. 12/31 ? Finished Goods Cost of Goods Sold Ball 1/1 58,000 Credits P Debits Debits Bal. 12/31 87,000 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 labore 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 $12,500 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Print References Complete this question by entering your answers in the tabs below. Reg1 to 5 Reg Red Rego 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 Show less 2 PRACTICE PROBLEMS FOR MID TERM EXAM O Direct labor 204,000 Bal 12/31 13,000 Overhead 214 200 Bal 12/31 Finished Goods Cost of Goods Sold Bal. 1/1 58,00 Credits ? Debits ? Debits Bal. 12/31 87,000 2 DO Required 1. What was the cost of raw materials used in production during the year? siped 2. How much of the materials in (t) above consisted of indirect materia? 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? 2. Was manufacturing overhead underappled or over applied by how much? B Compute the ending balance in Work in Process. Assume that this balance consists ontdely of goods started during the year. If Print $12.500 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 Realtos Rego Reg Reg 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 material 3. How much of the factory labor cost for the year consisted of indirect labor 4. What was the cost of manufactured for the year? 5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or everapplied overhead in your 1 Cestaw materials 2 Indirect mark Indirect labor Cost of goods anded 5 Unded cool of goods sold Req> 524,000 Debits Factory Wages Payable 221,000 Bal. 1/1 Credits Bal. 12/31 18,000 216,000 13,000 Work in Process Bal. 1/1 38,000 Credits Direct materials 188,000 Direct labor 284,000 Overhead 214,200 Bal. 12/31 Finished Goods Bal. 1/1 58,000 Credits Debits ? Bal. 12/31 87,000 Cost of Goods Sold ? | ? 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? 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 $12,500 of this balance is direct labor cost how much of it is direct materials cost? Applied overhead cost? es Complete this question by entering your answers in the tabs below. Reg 1 to 5 Reg 6 Req7 Reg If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? The predetermined overhead rate was % of direct labor cost 524,000 Debits 2 Factory Wages Payable 221,000 Bal. 1/1 Credits Bal. 12/31 18,000 216,000 13,000 Work in Process Bal. 1/1 38,000 Credits Direct materials 188,000 Direct labor 204,000 Overhead 214,280 Bal. 12/31 ? Finished Goods Bal. 1/1 58,000 Credits Debits Bal. 12/31 87,000 2 points ? Debits Cost of Goods Sold ? eBook 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 over applied? 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 $12.500 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Print Deferences Complete this question by entering your answers in the tabs below. Reg1 to 5 Regs Reg Reg Was manufacturing overhead under applied or overapplied? By how much? Manufacturing overhead was