Cal, Inc. showed the following amounts in its manufacturing overhead account at the end of 2013: Manufacturing Overhead Credit Debit 20,000 16,000 55,000 22,000 Based on this information, which statement is true? Manufacturing overhead has been over applied. Manufacturing overhead has been under applied. Manufacturing overhead will be reported in the operating section of the income statement in the amount of $3,000. No manufacturing overhead has been applied. Question 11 Which of the following companies would most likely use process costing? O. A law firm A home remodeling company A soft drink company An accounting firm Question 12 4 pts Keaubie Company completed job 464 at a cost of $55,000. They sold Job 464 for $85,000, receiving $10,000 and the remainder on account. Which of the following would be included in the journal entry to record the sale of the job? O Credit Cost of Goods sold for $85,000 O Debit Accounts Receivable for $75,000 Debit Cash for $85,000 O Debit Cash for $75,000 UTUIGEL TALUI Question 14 4 pts Keaubie Company completed job 464 at a cost of $40,000. They sold Job 464 for $71.000, receiving $5000 and the remainder on account. Which of the following would be included in the journal entry to record expensing the cost of the job? O Debit Cost of Goods Sold for $71,000 Debit Finished Goods Inventory for $40.000 O Credit Finished Goods Inventory for $71,000 Debit Cost of Goods Sold for $40,000 Question 15 4 pts Markley Manufacturing calculated its predetermined overhead rate to be 125% of direct labor cost. During June, the company incurred $90,000 of factory labor costs, of which $75,000 is direct labor and $15,000 is indirect labor. Actual overhead incurred was $84,000. How much will Markley debit to Work in Process Inventory in June? $93,750 $108,000 O $174.000 $102,000 4 pts Question 16 Question 16 4 pts Madison Company completed 120,000 units at a cost of $360,000. They sold 15,000 units for $80,000 on account. Which of the following would be included in the journal entry to record the sale of the job? O Debit Accounts Receivable for $45,000 O Debit cash for $45,000 Debit Cost of Goods Sold for $80,000 O Debit Accounts Receivable for $80,000 Question 22 Costs transferred to Finished Goods Inventory totaled, $225,000. Total units produced totaled 60,000. If one unit is sold, what is the cost that should be expensed? O $. 27 $3.75 $2.75 O none of these 42 Question 23 LLLLLLLS LLUISU Question 24 4 pt The journal entry to record the incurrence of $1,500 of direct labor and $200 of indirect labor includes which of the following? O Debit to Work in process for $1.500, debit to Manufacturing overhead for $200 O Debit to Work in process inventory for $1,700 O Debit to Work in process inventory for $1,500 and debit to Finished goods for $200 O Debit to Manufacturing overhead for $1,700