LCDs For You produces screens for use in various smartphones. The company reports the following information at December 31. LCDs For You began operations on January 31 earlier that same year. i (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 More Info Work in Process Inventory Wages Payable Manufacturing Overhead Finished Goods Inventory 31,000 123,000 78,000 78,000 6,000 47,000 123,000 115,000 Raw Materials Inventory 56,500 37,000 62,500 15,500 47,000 Balance 0 40,000 Print Done X 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