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Selected l-accounts of Moore Company are given below for the just completed year ? Debits Bal. 1/1 Debits Bal. 12/31 Manufacturing Overhead 188 18e Credits
Selected l-accounts of Moore Company are given below for the just completed year ? Debits Bal. 1/1 Debits Bal. 12/31 Manufacturing Overhead 188 18e Credits Raw Materials 35, Credits 160. 45,000 Work in Process 40,000 Credits 110,000 210.000 218,400 ? Finished Goods 68,000 Credits 530,000 Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Debits Factory Wages Payable 225, Bl. 1/1 Credits Bal 12/31 19, 220,000 14,000 Sal. 1/1 Debits Bal. 12/31 Cost of Goods Sold ? Debits 98,000 Required: 1 What was the cost of raw materials used in production during the year? 2. How much of the materials in 11) 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 $13.950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost
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