10) Which of dhe following is a sign that a product cot wystem le net A) Managers don't understand costs and profts B) The cost system was installed ive years ago C) The cost system is fully depreciated D) The cost system has multiple allocation bases 11) The use of which of the following costing aystema is most ikely to reduce cor A) Activity-based costing C) Plantwide overhead rate B) Traditional costing system 12) MANGO Furniture Company had the following labor-related transactions at their plant last month 12) Woodworkers' wages Staining tank workers' wages $9,850 What is the journal entry to record the incurrence of direct labor? A) WIP Inventory 800 B) WIP Inventory 153,800 53,800 C) WIP Inventory 163,650 Wa Pay 163,650 163,650 163.650 D) WIP Inventory 13) An accounting firm would be classified as a A) manufacturing company. C) service company. B) simple company. D) merchandising company 14) 14) Wertheim Ltd. reports the following data for its first year of operation Work in process inventory, beginning Work in Manufacturing overhead Direct materials used Direct Labor 50 inventory, ending 25,400 7,700 60,000 42,900 Cost of goods manufactured D) $23,100 C) $76,400 What is the cost of goods sold? B) $43,100 A) $30,900