Gabe's Gadgets produces LCD touchscreen products. The companyr reports the following information at December 31. Gabe's Gadgets began operations 11 months before, on January 31. Work in Process Wages Manufacturing Finished Goods Inventory Payable Overhead Inventory 32,000 126,000 i'5,000 75,000 2,500 48,000 126,000 113,000 63,500 11,500 48,000 Balance 0 3?,500 @uirements Requirements . What is the cost of direct materials used? . What is the cost of indirect materials used? . What is the cost of direct labour? . What is the cost of indirect labour? . What is the cost of goods manufactured? . What is the cost of goods sold {before adjusting for any under or overallocated manufacturing overhead)? . What is the actual manufacturing overhead? How much manufacturing overhead was allocated to jobs? . What is the predetermined manufacturing overhead rate as a percentage of direct labour cost? . ls manufacturing overhead underallocated or overallocated? By how much? Raw Materials Inventory 56,000 34,500 b