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Assume (1) estimated fixed manufacturing overhead for the coming period of $215,000, (2) estimated variable manufacturing overhead of $2.00 per direct labor hour, and (3) estimated direct labor-hours to be worked in the coming period of 55,000 hours. The predetermined plantwide overhead rate for the period is closest to: Multiple Choice $7.10. $5.30 $5.98. $5.91. Assume a company had no jobs in progress at the beginning of July and no beginning inventories. It started and completed only two jobs during July-Job Y and Job Z. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional information from the month of July is available for the company as a whole and for Jobs Y and Z : What is the plantwide predetermined overhead rate? Multiple Choice $11.50 $9.50 Which of the following statements is false? Multiple Choice Finished goods inventory is included in a balance sheet. Finished goods inventory includes direct materials used in production. Finished goods inventory includes actual manufacturing overhead costs assigned to jobs completed during the period. Finished goods inventory includes direct labor costs