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Selected T-accounts of Moore Company are given below for thejust completed year: Raw Materials Balance 1/1 30.000 Debits 150,000 Balance 12/31 40,000 Manufacturing Overhead Debit
Selected T-accounts of Moore Company are given below for thejust completed year: Raw Materials Balance 1/1 30.000 Debits 150,000 Balance 12/31 40,000 Manufacturing Overhead Debit Credit 189,500 Work in Process Debit Credit Balance 1/1 35.000 Credits 515,000 Direct materials 105,000 Direct labor 195,000 Overhead 214,500 Balance 12/31 ? Factory Wages Payable Debit Credit 215,000 Balance 1/1 16.500 Credits 210,000 Balance 12/31 11,500 Finished Goods Credit Balance 1/1 Debits Balance 12/31 Cost of Goods Sold Debit Credit Debits ? Required: 1. What was the cost of raw materials used in production? 2. How much ofthe materials in (1) above consisted of indirect materials? 3. How much ofthe factory labor cost is indirect labor? 4. What was the cost of goods manufactured? 5. What was the unadjusted cost of goods sold? Do not include any underapplied or overapplied overhead in your answer. 6. If overhead is applied to production using direct labor cost, what was the predetermined overhead rate? 7. Was manufacturing overhead underapplied or overapplied? By how much? 8. Compute the ending balance in Work in Process. Assume this balance consists entirely of goods started during the year. If $11,750 of this balance is direct labor cost, how much 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? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost is indirect labor? 4. What was the cost of goods manufactured? 5. What was the unadjusted cost of goods sold? Do not include any underapplied or overapplied overhead in your answer. Show less A 1. Cost of raw materials 2. Indirect materials 3. Indirect labor cost 4. Cost of goods manufactured 5. Unadjusted cost of goods sold Reqs > \fComplete 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 this balance consists entirely of goods started during the year. If $11,750 of this balance is direct labor cost, how much is direct materials cost? Applied overhead cost? Ending balance in the work in process Direct materials cost Applied overhead cost
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