Selected ledger accounts for Realm Company are given below for the just-completed year:

Required:
1. What was the cost of raw materials put into production during the year?
2. How much of the materials in (1) consisted of indirect materials?
3. How much of the factory labour cost for the year consisted of indirect labour?
4. What was the cost of goods manufactured for the year?
5. What was the cost of goods sold for the year (before considering under-applied or over-applied overhead)?
6. If overhead is applied to production on the basis of direct materials cost, what rate was in effect during the year?
7. Was manufacturing overhead under-applied or over-applied? By how much?
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 $32,000 of this balance is direct materials cost, how much of it is direct labour cost? Manufacturing overhead cost?

Raw Materials Manufacturing Overhead 30,000 Credits 420,000 385,000 Credits Bal. V1 Debits Debits Bal. 3V12 60,000 Work in Process Factory Wages Payable 70000 Credits 320,000 110,000 400000 179,000 Bal. V1 10,000 175,000 Bal. V1 810,000 Debits Direct materials Credits Direct labour Overhead Bal 312 6,000 Bal. 3/12 Finished Goods Cost of Goods Sold 40,000 Credits ? Bal. V1 Debits Debits Bal. 31/12 130,000