40) If overhead applied is less than actual overhead incurred, it is A) Fully applied. B) Expected C) Underapplied. D) Overapplied E) Normal ses a job order costing system would make the following entry to record the flow 41) A company that uses a job order costing sys of direct materials into production: A) debit Factory Overhead create Daw Materials Inventory B) debit Work in Process Inventarit Raw Materials Inventory. C) debit Finished Goods Inver ned Goods Inventory, credit Raw Materials Inventory. D) debit Work in Process Inventore edit Factory Overhead E) debit Work in Process Inventory wedit Cost of Goods Sold. 42) Using the information below, calculate gross profit for the period: $ Beginning Raw Materials Inventory Ending Raw Materials Inventory Beginning Work in Process Inventory Ending Work in Process Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold for the period Sales revenues for the period Operating expenses for the period 25,000 30,000 55,000 64,000 80,000 67,000 540,000 1,254,000 232,000 A) $727,000 B) $1,022,000. C) $187,000. D) $714,000. E) S482,000