Butcher, Inc. completed Job No.E5 during 2020. Quaid Company's accounting records reflect the The job cost sheet listed the following: following inventories: Dec. 31, Direct materials $40,000 2019 Dec. 31, 2018 Direct labor $20,000 Raw materials inventory $20,000 $30,000 Manufacturing overhead applied $12,500 Work in process inventory 30,000 40,000 Units produced 5,000 units Finished goods inventory 50,000 60,000 Units sold During 2019, $80,000 of raw materials were purchased, direct labor costs amounted to $40,000, and manufacturing overhead incurred was $20,000. 2,900 units on How much is the cost of the finished hand from this job? If Quaid Company's cost of goods manufactured for 2019 amounted to $90,000, its cost of goods sold for the year is 30,450 O $150,000 102,950 $140,000 O 72,500 $100,000 42,050 What is the formula for the predetermined overhead rate? $200,000 Cost of goods manufactured equals $140,000 for 2020. Finished goods inventory is $5,000 at the beginning of the year and $6,500 at the end of the year. Beginning and ending work in process for 2020 are $2,000 and $8,000, respectively. How much is cost of goods sold for the year? O estimated annual overhead costs divided by an expected annual operating activity O estimated annual overhead costs divided by the actual operating activity 146,500 expected annual operating activity divided by estimated annual overhead costs 145,000 138,500 O estimated annual overhead costs divided by the actual annual overhead costs 140,000 When raw materials are purchased, what Inventory account is debited. As of the end of the year, Juliette Industries had $25,000 of raw materials inventory. At the beginning of the year, there was $200,000 of materials on hand. During the year, the company purchased $575,000 of materials. How much inventory was requisitioned for use on jobs during the year? Merchandise inventory Raw materials inventory 600,000 750,000 Work-in-process inventory 775,000 Finished Goods inventory 225,000