A predetermined manufacturing overhead rate is used to Murple Choice O accumulate actual manufacturing overhead costs as they are incurred O g n indirect costs to the units produced estach predetermined sling prices for manufactured products in sing and expenses to manufactug costs The predetermined overhead application rate based on direct labor hours is computed as: Multiple Choice O actual total overhead costs divided by actual direct labor hours. estimated total overhead costs divided by estimated direct labor hours. O actual total overhead costs divided by estimated direct labor hours. o estimated total overhead costs divided by actual direct labor hours. An excess of cost of goods manufactured over cost of goods sold for the period represents: Multiple Choice o an increase in gross profit o O a decrease in work in process inventory. o overapplied manufacturing overhead. o an increase in finished goods Inventory