Only LCD produces LCD touch screen products. The company reports the following information at December 31. Only LCD 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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Wages Payable Manufacturing Overhead Finished Goods Inventory Raw Materials Inventory Work in Process Inventory 45,000 126,500 113,000 5,500 34,000 29,000 126,500 64,500 45,000 77,000 77,000 12,500 38,000 Balance 0