2.5. At the end of an accounting period, a company using a job order costing system prepares the cost of goods manufactured: A. From the job cost sheet. B. From the work in process Inventory account. C. By adding direct materials used, direct labor incurred, and manufacturing overhead incurred. D. From the Cost of goods sold account. 2.6. The three basic elements of manufacturing cost are direct materials, direct labor, and: A. Cost of goods manufactured. B. Cost of goods sold. C. Work in process. D. Manufacturing overhead. 2.7. Fortner Company has no beginning work in process; 9,000 units are transferred out and 3,000 units in ending work in process are 1/3 finished as to conversion costs and fully completed as to materials cost. If total material cost is $60,000, the unit materials cost is: A. $5.00 B. $5.45 rounded C. $6.00 D. No correct answer is given 2.8. Conversion cost are the sum of A. Fixed and variable overhead costs. B. Labor cost and overhead costs. C. Direct materials cost and overhead cost. D. Direct labor and indirect labor costs. 2.9. The Work in Process inventory account of a manufacturing company shows a balance of $2,400 at the end of an accounting period. The job cost sheets of the two uncompleted jobs show charges of $400 and $200 for direct materials, and charges of $300 and $500 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of: A. 80% B. 125% C. 300% D. 240% 2.10. Largo Company has unit cost of @10 for materials and $30 for conversion cost. If there are 2,500 units in ending work in process, 40% complete as to conversion cost, and fully completed as to material cost, the total cost assignable to the ending work in process inventory is; A. $45,000 B. $55,000 C. $75,000 D. $100,000