Raw Materials:                                                     Manufacturing Overhead

Bal 1/1: 36,000    Credits: ?                                 Debits: 383,000    Credits: ?

Debits: 470,000

Bal: 12/3: 156,000

Work in Process:

Bal 1/1: 73,000                       Credits: 770,000         Factory Wages Payable

Direct Materials: 327,000                                           Debits: 172,000      Bal 1/1: 16,000

Direct Labor: 116,000                                                                                    Credits: 180,000

Overhead: 460,000                                                                                       Bal 12/31: 24,000

Bal: 12/31: ?

Finished Goods                                                            Cost of goods sold

Bal 1/1: 43,000        Credits: ?                                     Debits: ?

Debits: ?

Bal 12/31: 138,000

1. What was the cost of raw materials put into 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 cost of goods sold for the year (before considering underapplied or overapplied overhead)?

6. If overhead is applied to production on the basis of direct materials cost, what predetermined rate was in effect during the year?(round your answer to 2 decimal places)

7. Was manufacturing overhead underapplied or overapplied? By how much?

8. Computer the ending balance in the Work in Process inventory account.  Assume that this balance consists entirely of goods started during the year.  If $32,900 of this balance is direct materials cost, how much of it is direct labor cost? Manufacturing ooverhead cost? (Round your predetermined overhead rate percentage and final answer to 2 decimal places)