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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 29,000 Credits ? Debits 148,000 Balance

Selected T-accounts of Moore Company are given below for the just completed year:

Raw Materials
Debit Credit
Balance 1/1 29,000 Credits ?
Debits 148,000
Balance 12/31 39,000

Manufacturing Overhead
Debit Credit
Debits 196,800 Credits ?

Work in Process
Debit Credit
Balance 1/1 34,000 Credits 512,000
Direct materials 104,000
Direct labor 192,000
Overhead 220,800
Balance 12/31 ?

Factory Wages Payable
Debit Credit
Debits 213,000 Balance 1/1 16,000
Credits 208,000
Balance 12/31 11,000

Finished Goods
Debit Credit
Balance 1/1 54,000 Credits ?
Debits ?
Balance 12/31 81,000

Cost of Goods Sold
Debit Credit
Debits ?

Required:

1. What was the cost of raw materials used in production during the year?

2. How much of the materials in (1) above consisted of indirect materials?

3. How much of the factory labor cost for the year consisted of indirect labor?

4. What was the cost of goods manufactured for the year?

5. What was the unadjusted cost of goods sold for the year? Do not include any underapplied or overapplied overhead in your answer.

6. If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year?

7. Was manufacturing overhead underapplied or overapplied? By how much?

8. Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $11,500 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost?

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