Selected T-accounts of Moore Company are given below for the just completed year: Raw Materials Debit Credit Balance 1/1 Debits Balance 12/31 32,000 Credits 154,000 42,000 Manufacturing Overhead Debit Credit Debits 194,100 Credits Work in Process Debit Credit Balance 1/1 37,000 Credits 521,000 Direct materials 107,000 Direct labor Overhead 201,000 221,100 Balance 12/31 ? Factory Wages Payable Debit Credit Debits 219,000 Balance 1/1 Credits Balance 12/31 17,500 214,000 12,500 Finished Goods Debit Credit Balance 1/1 57,000 Credits Debits ? Balance 12/31 85,500 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 $12,250 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Req 1 to 5 Req 6 Req 7 Req 8 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. 1. Cost of raw materials 2. Indirect materials 3. Indirect labor cost 4. Cost of goods manufactured 5. Unadjusted cost of goods sold Req 1 to 5 Req 6 > Show less Selected T-accounts of Moore Company are given below for the just completed year: Raw Materials Balance 1/1 Debits Balance 12/31 Debit Credit 32,000 Credits 154,000 42,000 Manufacturing Overhead Debit Credit Debits 194,100 | Credits Work in Process Debit Credit Balance 1/1 Direct materials 37,000 Credits 521,000 107,000 Direct labor 201,000 Overhead 221,100 Balance 12/31 ? Factory Wages Payable Debit Credit Debits 219,000 Balance 1/1 Credits Balance 12/31 17,500 214,000 12,500 Finished Goods Debit Credit Balance 1/1 Debits 57,000 Credits ? Balance 12/31 85,500 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 $12,250 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Req 1 to 5 Req 6 Req 7 Req 8 If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? The predetermined overhead rate was % of direct labor cost < Req 1 to 5 Req 7 > Selected T-accounts of Moore Company are given below for the just completed year: Raw Materials Balance 1/1 Debits Balance 12/31 Debit Credit 32,000 Credits 154,000 42,000 Manufacturing Overhead Debit Credit Debits 194,100 | Credits Work in Process Debit Credit Balance 1/1 37,000 Credits 521,000 Direct materials 107,000 Direct labor 201,000 Overhead 221,100 Balance 12/31 ? Factory Wages Payable Debit Credit Debits 219,000 Balance 1/1 Credits Balance 12/31 17,500 214,000 12,500 Finished Goods Debit Credit Balance 1/1 Debits 57,000 Credits ? Balance 12/31 85,500 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 $12,250 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Req 1 to 5 Req 6 Req 7 Req 8 Was manufacturing overhead underapplied or overapplied? By how much? Manufacturing overhead was by < Req 6 Req 8 > Selected T-accounts of Moore Company are given below for the just completed year: Raw Materials Debit Credit Balance 1/1 Debits Balance 12/31 32,000 Credits 154,000 42,000 Manufacturing Overhead Debit Credit Debits 194,100 Credits Work in Process Debit Credit Balance 1/1 Direct materials 37,000 Credits 521,000 107,000 Direct labor Overhead 201,000 221,100 Balance 12/31 ? Factory Wages Payable Debit Credit Debits 219,000 Balance 1/1 Credits Balance 12/31 17,500 214,000 12,500 Finished Goods Debit Credit Balance 1/1 Debits 57,000 Credits ? ? Balance 12/31 85,500 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 $12,250 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Complete this question by entering your answers in the tabs below. Req 1 to 5 Req 6 Req 7 Req 8 Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $12,250 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Ending balance in the work in process Direct materials cost Applied overhead cost < Req 7 Req 8 >