Selected T-accounts of Moore Company are given below for the just completed year

Question

Selected T-accounts of Moore Company are given below for the just completed year: Manufacturing Overhead Raw Materials Bal. 1/1 34,000 Credit8 10 points Bal. 12 44,000 --i Work in Process Factory Hages Payable Skipped 223,000Bal. 1/1 18,500 218,000 13,500 27,000 Debits 9,000 Credit 109,000 Dal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 Credits Bal. 12/31 207,000 211,140 eBook Pinished Goods Cost of Goods Sold Bal. 1/ 59,000 Credits Debit Bal. 12/31 88,500 Print Required: 1. What was the cost of raw materials used in production during the year? References2. 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 $12,750 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 Reg 7 Reg 8 1. What was the cost of raw materials used in production during the year? Prey1 of 4 Next>

Explanation / Answer

* Please check that closing of Finished Goods is $ 88500 only, if not than modiy answer accordingly for Part 5. Thanks

S.no Particulars Answer 1 34000+158000-44000 $1,48,000.00 2 148000-109000 $39,000.00 3 218000-207000 $11,000.00 4 527000 $5,27,000.00 5 55000+88500*-527000 $(3,83,500.00) 6 211140/207000 $1.02 7 211140-182140 29000

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