Selected ledger accounts for Realm Company are given below for the just-completed year: Bal. 1/1 Debits Bal. 31/12 Raw Materials 48,000 Credits 510,000 96,000 Debits Manufacturing Overhead 444,200 Credits Bal. 1/1 Direct materials Direct labour Overhead Bal. 31/12 Debits Work in Process 97,000 Credits 356,000 146,000 462,800 P Factory Wages Payable 224,000 Bal. 1/1 28,000 Credits 220,000 Bal. 31/12 24,000 13 960,100 Finished Goods Credit Bal. 1/1 Debits 72,400 ? Bal. 31/12 184,000 Debits Cost of Goods Sold 4 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? Indirent materiale 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 $33,800 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