Reference no: EM13337247

Selected T-accounts for Rolm Company are given below for the just completed year:

Raw Materials

Manufacturing Overhead

Bal. 1/1 32,000		Credits ?		Debits 387,000		Credits ?
Debits 450,000
Bal. 12/31 58,000

Work in Process

Factory Wages Payable

Bal. 1/1 71,000		Credits 740,000		Debits 177,000		Bal. 1/1 13,000
Direct materials 321,000						Credits 181,000
Direct labor 111,000						Bal. 12/31 17,000
Overhead 410,000
Bal. 12/31 ?

Finished Goods

Cost of Goods Sold

Bal. 1/1 48,000		Credits ?		Debits ?
Debits ?
Bal. 12/31 136,000

1.  What was the cost of raw materials put into production during the year?

The cost of raw materials $

2.  How much of the materials in (1) above consisted of indirect materials?

Indirect materials $

3.  How much of the factory labor cost for the year consisted of indirect labor?

Indirect labor cost $
4.  What was the cost of goods manufactured for the year?

Cost of goods manufactured $
5.  What was the cost of goods sold for the year (before considering underapplied or overapplied overhead)?

Cost of goods sold $
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.)

The predetermined overhead rate was % of direct materials cost
7.  Was manufacturing overhead underapplied or overapplied? By how much? (Input the amount as a positive value.)

Manufacturing overhead was (Click to select) overapplied underapplied by $
8.  Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,200 of this balance is direct materials cost, how much of it is direct labor cost? Manufacturing overhead cost? (Round your predetermined overhead rate percentage and final answers to 2 decimal places.)