Selected ledger accounts for Realm Company are given below for the just-completed year: Bal. 1/1 Debits Bal. 31/12 Raw Materials 30,000 Credits 420,000 60,000 Debits Manufacturing Overhead 385,000 Credits Bal. 1/1 Direct materials Direct labour Overhead Bal. 31/12 P Work in Process 70,000 Credits 810,000 320,000 110,000 400,000 ? Debits Factory Wages Payable 179,000 Bal. 1/1 10,000 Credits 175,000 Bal. 31/12 6,000 Finished Goods Bal. 1/1 Debits 40,000 Credit ? Bal. 31/12 130,000 Debits Cost of Goods Sold P Required: 1. What was the cost of raw materials put into production during the year? Cost of raw materials 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 96 7. Was manufacturing overhead underapplied or overapplied? By how much? Manufacturing overhead was by