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1 Selected ledger accounts for Serenade Processing Company 2 are given below for the year ended October 31, 2021: Required: You have the option of doing some or all of your calculations with the use of the above t-accounts, or cell reference your calculations directly to the amounts provided within the t-accounts. 3 4 1 What was the cost of indirect materials put into production during the year? 5 $ Open Debits Raw Materials 20,000 630,000 6 ? Credits 2 What was the cost of goods manufactured for the year? 7 8 Close $ 51,720 3 How much of the factory labour cost for the year consisted of indirect labour? INIMO 9 10 4 What was the balance in the manufacturing overhead account? Was manufacturing overhead underapplied or overapplied? 11 12 Open Direct materials Direct labour Applied Overhead Close WIP - Mixing Department $ 50,000 330,000 ? Credits 200,000 400,000 $ 120,000 13 5 What was the cost of goods sold for the year (before considering underapplied or overapplied overhead)| 14 15 16 17 WIP - Finishing Department $ 60,000 18 19 ? 20 ? Credits Open Transferred in Direct materials Direct labour Applied Overhead Close 21 22 200,000 120,000 240,000 126,960 23 $ 24 25 Finished Goods 40,000 26 $ 27 Open Debits Close ? ? Credits $ 130,000 28 29 25 26 Finished Goods 40,000 S Open Debits Close 27 28 ? Credits S 130,000 29 30 Manufacturing Overhead $ 687,400 ? Credits Debits 31 32 33 34 Close Close 35 36 Factory Wages Payable $ 10,000 Open 389,000 383,440 Credits 37 Debits 38 39 40 ? Close 41 42 Cost of Goods Sold 43 $ Open Debits 44 ? 45 Close ? Ir