The following information is taken from the adjusted year end accounting records of Ryser Company for the year ended October 31, 2020: Direct materials used Factory insurance $ 115,500 15,000 Finished goods inventory, November 1, 2019 Indirect labour cost Maintenance, factory Net income Office insurance 60,000 22,500 27,000 643,680 1,500 Office supplies 3,000 Purchases of raw materials 126,000 Raw materials inventory, November 1, 2019 9,000 Raw materials inventory, October 31, 2020 6,000 Advertising expense 87,000 Cost of goods available for sale 442,500 10,500 Depreciation, factory equipment Depreciation, office equipment Sales commissions Sales revenue Total manufacturing costs Utilities, factory Work in process inventory, October 31, 2020 REQUIRED: 1. (i) Calculate the cost of the indirect materials used during the year (ii) Briefly explain, using two specific examples, the difference between Direct materials and Indirect materials 2. (i) Calculate the total actual manufacturing overhead cost during the year. (ii) Explain why manufacturing overhead is allocated to jobs based on a pre-determined rate and not the actual manufacturing overhead cost. (iii) Explain TWO disadvantages of using a predetermined overhead rate to allocate manufacturing overhead to products. 4,500 82,500 1,462,500 385,500 12,000 18,000