Selected t-accounts of more company are given below for the just completed year: raw materials bal. 1/1 15,000 credits? debits 120,000 bal. 12/31 25,000 manufacturing overhead debits 230,000 credits? work in process bal. 1/1 20,000 credits 470,000 direct materials 90,000 direct labor 150,000 overhead 240,000 bal. 12/31 ? factory wages payable debits 185,000 bal. 1/1 9,000 credits 180,000 bal. 12/31 4,000 finished goods bal. 1/1 40,000 credits ? debits ? bal. 12/31 60,000 cost of goods sold debits ? required:
- what was the cost of raw materials used in production during the year?
- how much of the materials in (1) above consisted of indirect materials?
- how much of the factory labor cost for the year consisted of indirect labor?
- what was the cost of goods manufactured for the year?
- what was the unadjusted cost of goods sold for the year? do not include any underapplied or overapplied overhead in your answer.
- if overhead is applied to production on the basis of direct la