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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 1 5
Selected Taccounts of Moore Company are given below for the just completed year:
Raw Materials
Debit Credit
Balance Credits
Debits
Balance
Manufacturing Overhead
Debit Credit
Debits Credits
Work in Process
Debit Credit
Balance Credits
Direct materials
Direct labor
Overhead
Balance
Factory Wages Payable
Debit Credit
Debits Balance
Credits
Balance
Finished Goods
Debit Credit
Balance Credits
Debits
Balance
Cost of Goods Sold
Debit Credit
Debits
Required:
What was the cost of raw materials used in production during the year?
How much of the materials in above consisted of indirect materials?
How much of the factory labor cost for the year consisted of indirect labor?
What was the cost of goods manufactured for the year?
What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer.
If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year?
Was manufacturing overhead underapplied or overapplied? By how much?
Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $ of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost?
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