BUS 202 EW Final (Sasha Smith) ayout References Mailings Review View Help Tell me what you want to do Capri Boat Corporation uses a job order cost system and applies overhead based on a percentage of direct labor cost. Cost flows through the Work in Process Inventory account during March are given below: Work in Process Transferred Out 300,000 Beginning Balance Direct Materials Direct Labor Overhead 70,000 100,000 260,000 Ending Balance 130,000 Only Job #007 was still in process at the end of March and this job had been charged with $40,000 in direct materials cost. 19. The journal entry which accounts for the $300,000 transferred out of Work in Process account includes a debit of $300,000 to A. Accounts Receivable B. Sales C. Cost f Goods Sold. D. Finished Goods 20. If a product sells for $8, variable costs are S6 and fixed costs are $150,000, what would total sales have to be in order to break-even? A. $399,999 B. $699,999 C. $390,000 D. $600,000 21. Residual income can be defined as income left over after dividends are paid out. A. 1hat B. Operating eanings minus return on investment. C. Operating earnings minus a minimum acceptable return. D. Operating earnings minus a minimum acceptable return, times invested capital