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 $9,0 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. Required 1 to 5 Required 6 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? Required 7 Required 8 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 . Cost of raw materials . Indirect materials Indirect labor cost Cost of goods manufactured Unadjusted cost of goods sold $ $ $ 118,000 24,000 26,000 Required 6

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please complete all the requirements
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 $9,000
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.
Required 1 to
5
Required 6
Required 7 Required 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 lessA
1. Cost of raw materials
2. Indirect materials
3. Indirect labor cost
4. Cost of goods manufactured
5. Unadjusted cost of goods sold
$
$
$
118,000
24,000
26,000
Required 6
>
Transcribed Image Text: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 $9,000 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. Required 1 to 5 Required 6 Required 7 Required 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 lessA 1. Cost of raw materials 2. Indirect materials 3. Indirect labor cost 4. Cost of goods manufactured 5. Unadjusted cost of goods sold $ $ $ 118,000 24,000 26,000 Required 6 >
es
Selected T-accounts of Moore Company are given below for the just completed year:
Balance 1/1
Debits
Balance 12/31
Debits
Debit
Debits
Debit
Balance 1/1
Direct materials
Direct labor
Overhead
Balance 12/31
Debits
Debit
Debit
Debit
Balance 1/1
Debits
Balance 12/31
Debit
Raw Materials
19,000 Credits
128,000
29,000
Manufacturing Overhead
220,900 Credits
Work in Process
24,000 Credits
94,000
162,000
234,900
?
Factory Wages Payable
193,000 Balance 1/1
Credits
Finished Goods
44,000 Credits
?
66,000
Cost of Goods Sold
?
Credit
Credit
Balance 12/31
Credit
Credit
Credit
Credit
482,000
11,000
188,000
6,000
?
Required:
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.
Transcribed Image Text:es Selected T-accounts of Moore Company are given below for the just completed year: Balance 1/1 Debits Balance 12/31 Debits Debit Debits Debit Balance 1/1 Direct materials Direct labor Overhead Balance 12/31 Debits Debit Debit Debit Balance 1/1 Debits Balance 12/31 Debit Raw Materials 19,000 Credits 128,000 29,000 Manufacturing Overhead 220,900 Credits Work in Process 24,000 Credits 94,000 162,000 234,900 ? Factory Wages Payable 193,000 Balance 1/1 Credits Finished Goods 44,000 Credits ? 66,000 Cost of Goods Sold ? Credit Credit Balance 12/31 Credit Credit Credit Credit 482,000 11,000 188,000 6,000 ? Required: 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.
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