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  3. problem 311 taccount analysis of cost flows lo32 lo33 l034...

Question: problem 311 taccount analysis of cost flows lo32 lo33 l034...

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Problem 3-11 T-Account Analysis of Cost Flows [LO3-2, LO3-3, L03-4] Selected T-accounts of Moore Company are given below for the just completed year: Raw Materials Manufacturing Overhead 202,260Credits Bal. 1/1 Debits Bal. 12/31 26,000 Credits ? Debits 142,000 36,000 Work in Process Factory Wages Payable Bal. 1/1 Direct materials Direct labor Overhead Bal. 12/31 14,500 202,000 9,500 31,000Credits 503,000 Debits 207,000Bal. 1/1 101,000 183,000 223,260 Credits Bal. 12/31 Finished Goods Cost of Goods Sold Bal. 1/1 Debits Bal. 12/31 51,000Credits Debits 76,500 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 $10,750 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost?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 Show lessA 1. Cost of raw materials 2. Indirect materials 3. Indirect labor cost 4. Cost of goods manufactured 5. |Unadjusted cost of goods soldIf overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year? The predetermined overhead rate was % of direct labor costWas manufacturing overhead underapplied or overapplied? By how much? Manufacturing overhead was byCompute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If $10,750 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost? Ending balance in the work in process Direct materials cost Applied overhead cost

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