LCDs For You produces LCD touch screen products. The company reports the following information at December 31. LCDs For You began operations on January 31 earlier that same year.

1. What is the cost of direct materials used?
2. What is the cost of indirect materials used?
3. What is the cost of direct labour?
4. What is the cost of indirect labour?
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 labour cost?
10. Is manufacturing overhead underallocated or overallocated? By how much?

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Work in Process Manufacturing Finished Goods Wages Payable 73,000 73,000 Raw Materials Inventory Inventory Overhead Inventory 28,000 125,500 60,000 7,500 42,000 13,000 125,500 111,500 57,500 35,500 42,000 Balance 0 41,500