Selected ledger accounts for Realm Company are given below for the just completed year: Bal. 1/1 Debits Bal. 31/12 Raw Materials 40,000 Credits 470,000 80,000 Debits Manufacturing Overhead 488,600 Credits 885,000 Bal. 1/1 Direct materials Direct labour Overhead Bal. 31/12 Work in Process 85,000 Credits 340,000 130,000 425,000 Debits Factory Wages Payable 204,000 Bal. 1/1 Credits Bal. 31/12 20,000 200.000 16,000 ? Bal. 1/1 Debits Bal. 31/12 Finished Goods 58,000 Credit ? 160,000 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? 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 told 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