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Underapplied overhead is a. reported as unearned revenue in the balance sheet. b. added to the Manufacturing Overhead account. added to Cost of Goods Sold. d. credited to Cost of Goods Sold. C. Overapplied overhead means that the overhead assigned to work in process is a. less than the actual overhead. b. less than the estimated overhead costs. greater than the overhead incurred. d. greater than the estimated overhead costs. C. A major purpose of cost accounting is to a. classify all costs as operating or nonoperating. b. measure, record, and report period costs. c. provide information to stockholders for investment decisions. d. measure, record, and report product costs. Total manufacturing costs include a. actual overhead costs. b. applied overhead costs. c. budgeted overhead costs. d. estimated overhead costs. In a job order cost system, a credit to Manufacturing Overhead will be accompanied by a debit to a. Cost of Goods Manufactured. b. Finished Goods Inventory. C. Work in Process Inventory. d. Raw Materials Inventory. Ace Manufacturing Company developed the following data: Beginning work in process inventory $ 90,000 Direct materials used 70,000 Actual overhead 110,000 Overhead applied 80,000 Cost of goods manufactured 120,000 Ending work in process 200,000