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Selected T-accounts of Moore Company are given below for the just completed year: Bal. 1/1 Debits Raw Materials 22,000 Credits 134,000 32,000 ? Debits
Selected T-accounts of Moore Company are given below for the just completed year: Bal. 1/1 Debits Raw Materials 22,000 Credits 134,000 32,000 ? Debits Manufacturing Overhead 215,560 Credits Bal. 12/31 Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Bal. 1/1 Debits Bal. 12/31 Work in Process 27,000 Credits 491,000 Debits Factory Mages Payable 199,000 Bal. 1/1 12,500 97,000 Credits Bal. 12/31 194,000 7,500 171,000 232,560 Finished Goods 47,000 Credits 2 70,500 Cost of Goods Sold 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 $9,750 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 Reg 6 Req 7 Req 8
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