Fill the blanks of the following table (last column) and

Fill the blanks of the following table (last column) and find out the value of SDR in terms of U.S. dollars ($/SDR) and the value of U.S. dollars in terms of SDR (SDR/$)

Requirement 1:

What was the cost of raw materials put into production during the year? (Omit the “$” sign in your response.) The cost of raw materials $

Requirement 2:

How much of the materials in requirement 1 above consisted of indirect materials? (Omit the “$” sign in your response.) Indirect materials $

Requirement 3:

How much of the factory labor cost for the year consisted of indirect labor? (Omit the “$” sign in your response.) Indirect labor cost $

Requirement 4:

What was the cost of goods manufactured for the year? (Omit the “$” sign in your response.) Cost of goods manufactured $

Requirement 5:

What was the cost of goods sold for the year (before considering underapplied or overapplied overhead)? (Omit the “$” sign in your response.)

Cost of goods sold $

Requirement 6:

If overhead is applied to production on the basis of direct labor cost, what rate was in effect during the year? (Omit the “%” sign in your response.)

The predetermined overhead rate was % of direct labor cost

Requirement 7:

Was manufacturing overhead underapplied or overapplied? By how much? (Input the amount as positive value. Omit the “$” sign in your response.)

Manufacturing overhead was __Over or Underapplied___ by $

Requirement 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 $8,000 of this balance is direct labor cost, how much of it is direct materials cost? Manufacturing overhead cost? (Omit the “$” sign in your response.)

Direct materials cost $

Manufacturing overhead cost $