65) In absorption costing, fixed manufacturing overhead is expensed A) at the end of the period in which it is paid B) when all the other non-manufacturing fixed costs are expensed C) when the units are produced D) when the product is sold 66) 66) Magnolia Inc. has budgeted sales for the first quarter of the next year to be 30,000 units. The inventory in hand at the beginning of quarter is 5,000 units. The desired ending inventory is 10,000 units. Calculate the budgeted production for the first quarter. D) 25,000 units C) 35,000 units B) 40,000 units A) 10,000 units 67) 67) Which of the following correctly describes the accounting for factory depreciation? A) Factory depreciation is a period cost and is expensed when the manufactured product is sold B) Factory depreciation is a product cost and is expensed when the manufactured product is sold. C) Factory depreciation is a period cost and is expensed as incurred. D) Factory depreciation is a product cost and is expensed as incurred. 68) Jeremy Corporation estimated manufacturing overhead costs for the year to be $500,000. Jeremy 68) also estimated 8,000 machine hours and 2,000 direct labor hours for the year. It bases the predetermined overhead allocation rate on machine hours. On January 31, Job 25 was required 6 machine hours and 1 direct labor hour. What is the a allocated to the completed j completed. It head mount of manufacturing over A) $375.00 B) $350.00 C)$1,500.00 D) $437.50