Nadia joined PT. WIKU as controller in October 2019. PT WIKU build flats in the Depok area. The company uses a normal costing system with product cost components consisting of: direct material costs, direct labor costs, and factory overhead costs. In 2019, factory overhead was allocated to orders of 150% of direct labor cost. If there is under/over applied overhead will be closed to cost of goods sold. Fee information for 2020 follows: (in dollars) Direct Raw Materials, Jan 1, 2020 25,000 Direct Raw Material Purchase, 2020 700,000 Direct raw materials are used for production, 2020 630,000 Work In Progress, Jan 1, 2020 280,000 Work In Process, Dec 31, 2020 108,000 Direct Labor, 2020 880,000 Cost of Production, 2020 2,900,000 2 Early Finished Goods, Jan 1, 2020 320,000 Final Finished Goods, Dec 31, 2020 290,000 Factory Overhead, 2020 1,300,000 PT WIKU's revenue for 2020 is $5,550,000, and selling and administrative expenses company is $2,720,000. Requested: 1. Based on the above information: a.Calculate the final direct materials balance as of 12/31/2020 (2 points) b.Compute the factory overhead balance allocated in 2020 (3 points) C.Calculate the balance of Cost of Goods Sold in 2020 (2 points) 2. Calculate the amount of under/over applied overhead. (3 points) 3. Calculate Anderson's net operating income if under/over applied overhead is closed to cost of goods sold. (5 points) 4. In your opinion, what is the company's current decision to use the cost approach? normal in the calculation of production costs is correct when compared if the company using the actual cost approach? Explain (5 points)