Heartfelt produces screens for use in various smartphones. The company reports the following information at December 31. Heartfelt began operations on January 31 earlier that same year. (Click the icon to view additional information.) Read the requirements. Requirement 1. What is the cost of direct materials used? The cost of direct materials used is Requirements 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 labor? 4. What is the cost of indirect labor? 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 labor cost? 10. Is manufacturing overhead underallocated or overallocated? By how much? Print Done More info Work in Process Inventory Wages Payable Manufacturing Overhead 30,000 125,500 72,000 72,000 3,500 42,000 62,000 10,000 42,000 Balance 0 41,000 Finished Goods Inventory 125,500 112,500 Raw Materials Inventory 57,500 33,500 Print Done