please help ASAP

per DLS Inc. has provided the following data concerning last month's operations. Assume that overhead is allocated on the basis of DIRECT LABOR COST using a plantwide overhead rate. Abe assume that any underleverapplied overhead is adjusted to COGS Raw materials purchased 35.000 Direct labor cost 50,000 Predetermined overhead rate 2 Total actual overhead 106.000 Reginning Ending Raw materials inventory 18,000 12,000 Work in process inventory 64,000 46.000 Finished goods inventory 32.000 40,000 LOJ-1.2.3 point) Compute the direct materials used in production LOS-1.2.3 (point) Compute the cost of goods manufactured (COGM) L03-4(% point each) Compute the underleverapplied overhead amount. Label the computed amount as either an underapplied or overapplied OH. Then, prepare the adjusting entry using T-accounts or journal entries LOJ-1.2.3 point) Compute the cost of goods sold (after any adjustments for underleverapplied OH) LO3-4% point) Regardless of your responses above, assume that there is an overapplied overhead amount. Will the adjusting entry to clear the overhead account increase, not affect, or decrease COGS? Briefly explain. No computations necessary. LOJ-1.2.3 (point each) Indicate whether each item below is True or False, assuming all else are held constant. An underapplied overhead amount will decrease operating income An increase in the direct materials purchased will decrease the cost of direct materials used (DM) An increase in the indirect labor rate will increase the actual overhead. 0000 An increase in the cost of goods sold will increase gross margin LOJ-1 (1 point) Briefly explain how the flow of costs in a job-order casting system follows the flow of the physical production fie from raw materials purchases to sales and cost of goods sold). Make sure to include how the overhead account is closed to a zere balance