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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 21,000 Credits Debits 132,000 Balance
Selected T-accounts of Moore Company are given below for the just completed year: Raw Materials Debit Credit Balance 1/1 21,000 Credits Debits 132,000 Balance 12/31 31,000 Manufacturing Overhead Debit Credit ok Debits int 210,800 Credits Work in Process Debit Credit ences Balance 1/1 26,000 Credits 488,000 Direct materials 96,000 Direct labor 168,000 Overhead 226,800 Balance 12/31 Factory Wages Payable Debit Credit Debits 197,000 Balance 1/1 Credits 12,000 192,000 Balance 12/31 7,000 Finished Goods Debit Credit Balance 1/1 46,000 Credits ? Debits Balance 12/31 69,000 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 underappliec 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 $9,500 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. iriabl it is $ fixe units hin the 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 $9,500 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead c Ending balance in the work in process Direct materials cost Applied overhead cost $ 28,800 $ 96,000 $ 11,915 < Req 7 Bay B
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