Selected T-accounts of Moore Company are given below for the just completed year: Bal. 1/1 Debits Bal. 12/31 Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Raw Materials 35,000 Credits 160,000 45,000 Work in Process 40,000 110,000 210,000 218,400 2 2 Debits Manufacturing Overhead 188,400 Credits Credits 530,000 Debits Factory Wages Payable 225,000 Bal. 1/1 19,000 Credits 220,000 Bal. 12/31 14,000 Bal. 1/1 Debits Bal. 12/31 Required: Finished Goods Cost of Goods Sold 60,000 Credits ? Debits 2 90,000 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 $13,950 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? 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 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 6 Req 7 Req 8 Was manufacturing overhead underapplied or overapplied? By how much? Manufacturing overhead was by Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $13,950 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