9 For Nos. 5-13 0 Touch Corporation produces LCD touch screen products. The company reports the following "T" accounts at 1 December 31, 2012. Touch began operations Jan 1 current year. 2 WIP Mfg Payroll Mfg. overhead 3 30,000 123,000 70,000 70,000 2,000 48,000 4 60,000 10,000 5 48,000 37,000 6 Finished goods 123,000 111,000 Materials 52,000 32,000 8 9 5 What is the direct materials cost? Indirect materials cost? 6 What is the direct labor cost? Indirect labor cost? 0 1 2 3 4 5 b 7 8 7 What is the cost of goods manufactured? 8 What is the cost of goods sold before adjustements of any over under) applied overhead? 9 9 U What is the actual Manufacturing overhead? 10 1 2 3 4 What is the applied Manufacturing overhead? Pre-determined manufacturing overhead as a percentage of Direct Labor cost? 11 5 6 7 12 Is manufacturing overhead over or under-applied? Explain 13 Record the entry to close No. 12 DEBIT CREDIT 8 9 0 1