Selected T-accounts of Moore Company are given below for the just completed year:
Raw Materials
Debit Credit
Balance 1/1 27,000 Credits ?question mark
Debits 144,000
Balance 12/31 37,000
Manufacturing Overhead
Debit Credit
Debits 197,480 Credits ?question mark
Work in Process
Debit Credit
Balance 1/1 32,000 Credits 506,000
Direct materials 102,000
Direct labor 186,000
Overhead 219,480
Balance 12/31 ?question mark
Factory Wages Payable
Debit Credit
Debits 209,000 Balance 1/1 15,000
Credits 204,000
Balance 12/31 10,000
Finished Goods
Debit Credit
Balance 1/1 52,000 Credits ?question mark
Debits ?question mark
Balance 12/31 78,000
Cost of Goods Sold
Debit Credit
Debits ?question mark
Required:
What was the cost of raw materials used in production?
How much of the materials in (1) above consisted of indirect materials?
How much of the factory labor cost is indirect labor?
What was the cost of goods manufactured?
What was the unadjusted cost of goods sold? Do not include any underapplied or overapplied overhead in your answer.
If overhead is applied to production using direct labor cost, what was the predetermined overhead rate?
Was manufacturing overhead underapplied or overapplied? By how much?
Compute the ending balance in Work in Process. Assume this balance consists entirely of goods started during the year. If $11,000 of this balance is direct labor cost, how much is direct materials cost? Applied overhead cost?
