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Easy Life Company produces LCD touch-screen products. The company reports the following information at December 31. Easy Life Company began operations 11 months before, on

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Easy Life Company produces LCD touch-screen products. The company reports the following information at December 31. Easy Life Company began operations 11 months before, on January 31. Work in Process Wages Manufacturing Finished Goods Raw Materials Inventory Payable Overhead Inventory Inventory 30,000 123,000 71,000 71,000 2,500 49.000 123,000 115,500 53,500 32,500 63,500 7,500 49.000 Balance 0 42.500 Requirements Requirement 1. What is the cost of direct materials used? The cost of direct materials used is $ Requirement 2. What is the cost of indirect materials used? The cost of indirect materials used is Requirement 3. What is the cost of direct labour? The cost of direct labour is s Requirement 4. What is the cost of indirect labour? The cost of indirect labour is ald ik Requirement 6. What is the cost of goods sold (before adjusting for any under or overallocated manufacturing overhead)? The cost of goods sold (before adjusting for any under-or overallocated manufacturing overhead) is s Requirement 7. What is the actual manufacturing overhead? The actual manufacturing overhead is $ Requirement 8. How much manufacturing overhead was allocated to jobs? Allocated manufacturing overhead is $. Requirement 9. What is the predetermined manufacturing overhead rate as a percentage of direct labour cost? Identify the formula and then compute the percentage. (Round your answer to the nearest whole percent.) Predetermined overhead rate % Requirement 10. Is manufacturing overhead underallocated or overallocated? By how much? Identify the formula and then compute the underallocated or overallocated overhead (Use parentheses or a minus sign for overallocated overhead.) (Over) Under Allocated % Requirement 10. Is manufacturing overhead underallocated or overallocated? By how much? Identify the formula and then compute the underallocated or overallocated overhead. (Use parentheses or a minus sign for overallocated overh (Over) Under Allocated Manufacturing overhead is by $ Choose from any list or enter any number in the input fields and then continue to the next

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