c. Assigning Manufacturing Costs to Work in Process. 1. A job sheet is a form used cost to 2. Each entry to Work in Process Inventory must be accompanied by 3. Three entries are made in assigning the manufacturing costs to work in process. a. b. 4. The predetermined overhead rate is based on a. The company may state the activity in terms of b. The predetermined overhead rate is established when? 5. Using a predetermined overhead rate enables the company to 6. At the end of each month, the balance in Work in Process Inventory should equal the sum of D. Assigning Costs to Finished Goods and Cost of Goods Sold. 1. When a job is completed, the company summarizes the costs in the applicable job cost sheet and debits with postings made from 2. When a sale occurs there are two entries required. An entry debiting and crediting and a second entry debiting and crediting 3. Job cost sheets for a service company keep track of E. Applied Manufacturing Overhead. 1. 2. F. Under-or Overapplied Manufacturing Overhead. 1. Underapplied overhead means of 2. Overapplied overhead means of 3. At the end of the year, the company eliminates any balance in Manufacturing Overhead by an adjusting entry. Under- or overapplied overhead is generally considered to be an adjustment to 4. The company debits underapplied overhead to Cost of Goods Sold and it credits overapplied overhead to Cost of Goods Sold