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Selected T - accounts of Moore Company are given below for the just completed year: Raw Materials Debit Credit Balance 1 / 1 2 8
Selected Taccounts of Moore Company are given below for the just completed year: Raw Materials Debit Credit Balance Credits question mark Debits Balance Manufacturing Overhead Debit Credit Debits Credits question mark Work in Process Debit Credit Balance Credits Direct materials Direct labor Overhead Balance question mark Factory Wages Payable Debit Credit Debits Balance Credits Balance Finished Goods Debit Credit Balance Credits question mark Debits question mark Balance Cost of Goods Sold Debit Credit Debits question mark Required: What was the cost of raw materials used in production? How much of the materials in above consisted of indirect materials? How much of the factory labor cost is indirect labor? What was the cost of goods manufactured? What was the unadjusted cost of goods sold? Do not include any underapplied or overapplied overhead in your answer. If overhead is applied to production using direct labor cost, what was the predetermined overhead rate? Was manufacturing overhead underapplied or overapplied? By how much? Compute the ending balance in Work in Process. Assume this balance consists entirely of goods started during the year. If $ of this balance is direct labor cost, how much is direct materials cost? Applied overhead cost?
Selected Taccounts of Moore Company are given below for the just completed year:
Raw Materials
Debit Credit
Balance Credits question mark
Debits
Balance
Manufacturing Overhead
Debit Credit
Debits Credits question mark
Work in Process
Debit Credit
Balance Credits
Direct materials
Direct labor
Overhead
Balance question mark
Factory Wages Payable
Debit Credit
Debits Balance
Credits
Balance
Finished Goods
Debit Credit
Balance Credits question mark
Debits question mark
Balance
Cost of Goods Sold
Debit Credit
Debits question mark
Required:
What was the cost of raw materials used in production?
How much of the materials in above consisted of indirect materials?
How much of the factory labor cost is indirect labor?
What was the cost of goods manufactured?
What was the unadjusted cost of goods sold? Do not include any underapplied or overapplied overhead in your answer.
If overhead is applied to production using direct labor cost, what was the predetermined overhead rate?
Was manufacturing overhead underapplied or overapplied? By how much?
Compute the ending balance in Work in Process. Assume this balance consists entirely of goods started during the year. If $ of this balance is direct labor cost, how much is direct materials cost? Applied overhead cost?
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