32. Which of the following statements is True regarding product and period costs? A. Office salaries expense is a product cost and factory maintenance is a period cost. B. Office rent is a product cost and supervisors' salaries expense is a period cost. C. Factory rent is a product cost and advertising expense is a period cost. D. Delivery expense is a product cost and indirect materials is a period cost. 53. If overhead applied is less than actual overhead incurred, it is: A. Fully applied. B. Underapplied. C. Overapplied. D. Expected. 54. The Goods in Process Inventory account for AB Manufacturing follows. Compute the cost of jobs completed and transferred to Finished Goods Inventory. Beginning balance Direct materials Direct labor Applied overhead Ending balance Goods in Process Inventory 4,500 47,100 29,600 15,800 8,900 The cost of units transferred to finished goods is: A. $97,000. B. $105,900. C. $88,100. D. $95,200. Finished goods 55 An activity-based costing system would probably not be appropriate if A. A company produces more than one product line. B. A company produces only one product. C. A company is highly automated. D. A company has more than one production facility.