# Selected T-accounts of Moore Company are given below for the just completed year: What was the cost of raw

Selected T-accounts of Moore Company are given below for the just completed year: 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 labor cost, what predetermined overhead rate was in effect during the year? Was manufacturing overhead underapplied or overapplied? By how much? Compute the ending balance in Work in Process. Assume that this balance consists entirely of goods started during the year. If \$11,750 of this balance is direct labor cost, how much of it is direct materials cost? Applied overhead cost?

Question – 1

Cost of material used in the production = Total available – Balance at the ending

= 30000 + 150000 – 40000 = 140000 worth of material used in production.

Question – 2

Work in process is debited with material cost of 105000 which is direct material. So Indirect material shall be 140000 – 105000 = 35000

Question – 3

Total Wager cost of current year = 210000 ( see in T-account – Factory wage cost)

Out of this Direct wage cost = 195000 ( refer to WIP account)

So Indirect wage cost = 210000 – 195000 = 15000

Question – 4

Cost of goods manufactured = 515,000 ( refer to WIP a/c …credits)

Question – 5

Cost of goods sold = Beginning Finished goods + Cost of goods manufactured – Ending Finished goods

= 55000 + 515000 – 82500 = 487,500

Question – 6

Predetermined rate based on direct wages = Factory Overhead applied to production / Direct wages * 100

= 214500 / 195000 * 100 = 110%

Question – 7

Under / over absorption of overhead

WIP account indactes that 214500 was absorbed during the year. But Factory overhead a/c indicates total debits of 189,500 ……..So this clearly over absorption.

Over absorption of overhead = 214500 – 189500 = 25000

Question – 8

Ending WIP = Total debits in WIP —– 549500 and credits = 515000. So balance = 34500

When wages are 11750, we have overhead = 11750 * 110% = 12925

So Material cost = 34500 – 11750 – 12925 = 9825

Pages (550 words)
Approximate price: -

Help Me Write My Essay - Reasons:

Best Online Essay Writing Service

We strive to give our customers the best online essay writing experience. We Make sure essays are submitted on time and all the instructions are followed.

Our Writers are Experienced and Professional

Our essay writing service is founded on professional writers who are on stand by to help you any time.

Free Revision Fo all Essays

Sometimes you may require our writers to add on a point to make your essay as customised as possible, we will give you unlimited times to do this. And we will do it for free.

Timely Essay(s)

We understand the frustrations that comes with late essays and our writers are extra careful to not violate this term. Our support team is always engauging our writers to help you have your essay ahead of time.

Customised Essays &100% Confidential

Our Online writing Service has zero torelance for plagiarised papers. We have plagiarism checking tool that generate plagiarism reports just to make sure you are satisfied.

Try it now!

## Calculate the price of your order

Total price:
\$0.00

How it works?

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

HOW OUR ONLINE ESSAY WRITING SERVICE WORKS

Let us write that nagging essay.

By clicking on the "PLACE ORDER" button, tell us your requires. Be precise for an accurate customised essay. You may also upload any reading materials where applicable.

Pick A & Writer

Our ordering form will provide you with a list of writers and their feedbacks. At step 2, its time select a writer. Our online agents are on stand by to help you just in case.

Editing (OUR PART)

At this stage, our editor will go through your essay and make sure your writer did meet all the instructions.