Gives beginning raw materials inventory of 12,000, dient materials seed in production of $1,550 and ing waterials invesary of $450, what is the value of saw materials purchased for the p $1,550 $1,550 $450 Osa $4,000 If the pre-determined estimated factory overhead expense is less than the actual factory overhead expense, the The selling price of the product is less that the cost of goods sold b. Actual overhead expenses are aventat e. Finished goods are overvalued The cost of goods manufactured reported during the period was overstated The net income reported during the period was overstated My Company, LLC incurred costs in April of Direct Material ($29,000), Direct Labor ($24,000), Manufact Overhead ($14,000), Selling Expense ($18,000) and Administrative Expense ($18,000). Prime Cost during th month totaled $53,000 $67,000 c. $38,000 d. $103,000 $29,000 . Which statement is true? Raw Materials inventory contains warehouse supervisor's salary expense Work In Process account appears on a manufacture balance sheet c. Pinished goods inventory is valued at the selling price of the goods manufactured d. Total Factory Overhead is a period cost. e. Cost of Goods Manufactured should equal to Cest of Goods Sold Given actual factory overhead costs of $700,000, Gross Margin of $650,000, estimated factory overhead or of $400,000, Labor costs of $17, per hour, estimated labor hours of 70,000 and the number of direct labor employees of 150, what should the pre-determined factory overhead rate be, based on labor hours. (rounde nearest .01). $10.00 per hour $5.71 per hour $9.29 per hour d. $4.29 per hour e. 50.34 per hour