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Heartfelt produces screens for use in various smartphones. the company reports the following information at Decemeber 31. Heartfelt began operations on January 31 earlier thag same year.

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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? \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{2}{|c|}{\begin{tabular}{c} Work in Process \\ Inventory \end{tabular}} & \multicolumn{2}{|c|}{ Wages Payable } & \multicolumn{2}{|c|}{\begin{tabular}{c} Manufacturing \\ Overhead \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{l} Finished Goods \\ Inventory \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} Raw Materials \\ Inventory \end{tabular}} \\ \hline 31.000 & 128,000 & 76,000 & 76.000 & 1000 & 43.000 & 128,000 & 115,000 & 53,000 & 32,000 \\ \hline 62.000 & & & & 14.000 & & & & & \\ \hline 43,000 & & Balance 0 & & 40,000 & & & & & \\ \hline \end{tabular}

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