Selected ledger accounts for Realm Company are given below for the just-completed year: 2 Bal. 1/1 Debits Bal. 31/12 Raw Materials 44,000 Credits 490,000 88,000 Manufacturing Overhead 434,600 Credits Debits 2 928,100 Bal. 1/1 Direct materials Direct labour Overhead Bal. 31/12 Work in Process 91,000 Credits 348,000 138,000 452,400 ? Debits Factory Wages Payable 214,000 Bal. 1/1 Credits Bal. 31/12 24,000 210,000 20,000 2 Bal. 1/1 Debits Bal. 31/12 Finished Goods 65,200 Credit ? 172,000 Cost of Goods Sold ? Debits Required: 1. What was the cost of raw materials put into production during the year? Cost of raw materials 2. How much of the materials in requirement 1 consisted of indirect materials? Indirect materials 3. How much of the factory labour cost for the year consisted of indirect labour? Indirect labour cost 4. What was the cost of goods manufactured for the year? Cost of goods manufactured 5. What was the cost of goods sold for the year (before considering underapplied or overapplied overhead)? 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? Predetermined overhead rate % 7. Was manufacturing overhead underapplied or overapplied? By how much? Manufacturing overhead was 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 $33,400 of this balance is direct materials cost, how much of it is direct labour cost? Manufacturing overhead cost? Ending balance in the work in process Direct labour cost Manufacturing overhead cost