Baxter Products produces touch screens for use in various smartphones. The company reports the following information at December 31. Baxter Products began operations on January 31 earlier that same year.

Requirements
1. What is the cost of direct materials used?
2. The cost of indirect materials used?
3. What is the cost of direct labor?
4. The cost of indirect labor?
5. What is the cost of goods manufactured?
6. What is the cost of goods sold (before adjusting for any under- or overallocated manufacturing overhead)?
7. What is the actual manufacturing overhead?
8. How much manufacturing overhead was allocated to jobs?
9. What is the predetermined manufacturing overhead rate as a percentage of direct labor cost? 

10. Is manufacturing overhead underallocated or overallocated? By how much?

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Work in Process Wages Payable Raw Materials Inventory 53,000 35,000 Manufacturing Finished Goods Inventory 126,000 115,500 Inventory Overhead 28,s00 126,000 74,000 4,000 64,000 42,000 6,500 42,000 10,000 Balance 0 38,000