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Selected T-accounts of Moore Company are given below for the just completed year: Raw Material Debit Credit Debits Balance 1/1 Balance 12/31 21,000 Credits
Selected T-accounts of Moore Company are given below for the just completed year: Raw Material Debit Credit Debits Balance 1/1 Balance 12/31 21,000 Credits 132,000 31,000 Manufacturing Overhead Debit Credit Debits 210,800 Credits Work in Process Debit Credit 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 Balance 12/31 12,000 192,000 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 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?
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