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 $19.00 $11.00 $15.00 $7.00 Which of the following statements is false? Multiple Choice Raw materials inventory is included in the balance sheet. Raw materials inventory excludes indirect materials. Raw materials include direct materials. Raw materials inventory excludes selling expenses. The journal entry to record the cost of goods sold during the period includes: Multiple Choice a debit to Manufacturing Overhead. a credit to Finished Goods. a credit to Work in Process. a credit to Cost of Goods Sold