2. Both job order costing and process costing A. maintain a single Work-in-Process Inventory account B. treat all period costs as product costs C. follow last-in, first-out method for inventory valuation D. have the same type of product costs 4. The accounts of Ever Dream, Inc. showed the following balances at the beginning of March: Account Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory Manufacturing Overhead Debit 31,000 43,000 52,000 20,000 During the month, direct materials amounting to 23,000 and indirect materials amounting to 8,000 were issued to production. What is the ending balance in the Work-in-Process Inventory account following these two transactions? A. 42,000 B. 66,000 C. 10,000 D. 25,000 5. Simon, Inc. estimates direct labour costs and manufacturing overhead costs for the coming year to be 780,000 and 620,000, respectively. Simon allocates overhead costs based on machine hours. The estimated total labour hours and machine hours for the coming year are 19,000 hours and 8,000 hours, respectively. What is the predetermined overhead allocation rate? A. 111.43 per machine hour B. 26.84 per labour hour C. 1.53 per labour hour D. 77.50 per machine hour 6. Panda, Inc. completed Job number 35 on January 31. The details of Job number 35 are given below: Direct labour cost Direct materials cost Machine hours Direct labour hours Predetermined overhead allocation rate 860 1,100 9 hours 23 hours 80 per machine hour What is the total cost of Job number 35? A. 2,680 B. 1,960 C. 1,580 D. 1,820