"E3-42B Analyze T-accounts (Learning Objectives 2, 3, 5, & 6) ClearDay Displays produces screens for use in various smartphones. The company reports the following information at December 31. ClearDay Displays began operations on January 31 earlier that same year. Description Work in process inventory has costs 30,500, 64,000, 43,000 and 123,500; wages payable had 77,000 has balance 0; manufacturing overhead has costs 4,000, 13,000, 40,500 and 43,000; finished goods inventory has costs 123,500 and 115,500; raw materials inventory has cost 57,500 and 34,500. Requirements What is the cost of direct materials used? The cost of indirect materials used? What is the cost of direct labor? The cost of indirect labor? 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? Is manufacturing overhead underallocated or overallocated? By how much?"