DISCUSSION QUESTIONS 1. Name the three common bases used in calculating the predetermined overhead rate? 2. What materials, Work in process and Finished goods? 3. I inventory system is used in the job order accounting system for s it more important for the factory overhead to be accurate or timely? 4. If the factory overhead account has a credit balance at the end of the month, is the account over applied or under applied for the period? S. Which account is used in the job order system to accumulate direct materials, direct labor and factory overhead applied to production costs for individual jobs? 6. What kind of firm would use a job order cost system? 7. Which cost system provides a separate record of each particular quantity of product that passes through the factory? Which system accumulates the costs for each department or process within the factory? 8. Name the two journal entries that are made when the goods are sold and leave the finished goods inventory? Dr. Cr