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 Beginning Balance 0 Transferred Out 300,000 Direct Materials 70,000 Direct Labor 100,000 Overhead 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. 69) The amount of direct materials cost charged to completed jobs during March was: A) $20,000. B) $50,000. C) $30,000. D) $40,000. 70) The predetermined overhead application rate at Capri Boat is what percentage of direct labor costs? A) 38% B) 62% C) 260% D) 580% 71) The amount of overhead costs applied to Job #007 during March was: A) $90,000. B) $26,250. C) $65,000. D) $60,000. 72) The journal entry that accounts for the $300,000 transferred out of Work in Process account includes a debit of $300,000 to: A) Finished Goods. B) Cost of Goods Sold. C) Accounts Receivable. D) Sales