That brings back memories; I remember buying one of these new. It was a decent meter and served me well for a long, long time. I might still have it packed away in deep storage - I haven't seen it for a while. I retired it when I got my Fluke 79; the Micronta was still working last time I used it, but that's been a long, long time ago. You do understand that it's very, very old - right? I bought mine about 40 years ago.
The smoked resistor is a common failure - due to someone putting the probes across a voltage while the function switch was set to ohms. Be careful to replace them with the same type and value - close isn't close enough. This burned resistor only affects the ohms scale; if you have a problem with the voltage scales look elsewhere. My memory says it's a 10 ohm resistor - but don't take my word for it, it's been decades since I had to replace it in mine.
Make sure it's zeroed correctly. With the meter turned off, the pointer should rest on the zero line at the left of the dial. If not, adjust the plastic screw in the bottom of the meter (carefully) to correct it. Then, select a low ohms scale and turn the meter on - now adjust the "zero adj" knob to put the pointer on that zero line. Short the probes and adjust the "ohms adj" knob until it reads full scale.
For troubleshooting, remember that all the functions operate as simple resistive voltage dividers feeding a FET amplifier which drives the meter. Start by testing each selector switch position with a known test device and make notes of which scales work right and which do not. A pattern will emerge, which will show you where the problem lies.
When you get it fully working, you'll have a very good quality FET VOM that has high input impedance and gives accurate readings. It's a useful addition to any workbench and will serve the needs that digital meters don't handle quite so well.