19 The balance in the Work in Process Inventory at any point in time equals 1 points 00:46:35 . Ask Multiple Choice the costs for jobs finished during the period but not yet sold. the manufacturing cost of jobs ordered but not yet started into production. the sum of the manufacturing costs for all jobs in process but not yet completed. the manufacturing costs of all jobs started during the period, completed or not. the sum of the materials, labor and overhead costs paid during the period. 20 Clemmens Company applies overhead based on direct labor cost. Estimated overhead and direct labor costs for the year were $120,500 and $124,100, respectively. During the year, actual overhead was $106,500 and actual direct labor cost was $110,800. The entry to close the over- or underapplied overhead at year-end, assuming an immaterial amount, would include (Round predetermined overhead rate to nearest whole percentage.) 1 points 00:46:30 Multiple Choice Ask A debit to Cost of Goods Sold for $976. A debit to Work in Process Inventory for $976. A credit to Finished Goods Inventory for $976. A credit to Cost of Goods Sold for $976. A credit to Factory Overhead for $976. 1 21 A document in a job order costing system that is used to record the costs of producing a job is a(n): points 00:46:26 Multiple Choice Job cost sheet. Ask Job lot. Finished goods summary. Process cost system. Units-of-production sheet