Raw Materials Work in Process Finished Goods $21,000 Raw materials, November 30: $10,000 1 1 $18,000 Raw materials, December 31: $12,000 $15,000 $12,000 Work in process, November 30: $15,000 1 Work in process, December 31: $20,000 $9,000 $6,000 11 Finished goods, November 30: $7,500 $3,000 - Finished goods, December 31: $10,000 $0 November 30 December 31 November 30 December 31 November 30 December 31 Factory Overhead for December Sales, Materials, and Payroll for December Indirect materials Indirect labor Raw materials purchases (paid with cash): $40,000 Indirect materials: $5,000 Indirect labor: $7,000 Factory payroll Raw materials purchases Factory payroll (paid with cash): $57,000 Total Overhead $42,000 Sales (received in cash): $200,000 Other overhead costs: $30,000 Sales Other overhead costs Predetermined Overhead Rate Predetermined overhead rate based on direct labor cost 70% 1. Did finished goods inventory increase or decrease, and by what amount, from November 30 to December 31? 2. Did raw materials inventory increase or decrease, and by what amount, from November 30 to December 31? 3. Compute cost of direct materials used. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 1. Did finished goods inventory increase or decrease, and by what amount, from November 30 to December 31? 2. Did raw materials inventory increase or decrease, and by what amount, from November 30 to December 31? 1. Finished goods inventory 2. Raw materials inventory by by Compute cost of direct materials used. Cost of direct materials used