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10 Underapplied overhead is the amount by which actual overhead cost exceeds the overhead applied to products during the period 2 points True or False 01:00:02 True False 12 Period costs for a manufacturing company, such as selling and administrative expenses, are recorded directly to Work In Process Inventory when they are incurred 2 points True or False 8 00:53 True False Following is a partial process cost summary for Mitchell Manufacturing's Canning Department 21 Direct Materials 50,000 Conversion 50,000 2 points Equivalent Units of Production Units Completed and transferred out Units in Ending Work in Process: Direct Materials (15,000 * 100%) Conversion (15,800 * 80%) Equivalent Units of Production 15,000 12,000 62,000 8 005:59 65,000 Cost per Equivalent Unit Costs of beginning work in process Costs incurred this period Total costs Cost per equivalent unit $ 40,500 136, eee $176,500 $ 2.71 per EUP $ 59,700 183,100 $242,800 $ 3.92 per EUP f the units completed were transferred to the Labeling Department, what is the appropriate journal entry to ransfer the conversion costs? Multiple Choice Work in Process-Labeling $183.100: Work in Process-Canning $183,100. Work in Process-Labeling $196,000; Work in Process-Canning $196,000 Finished Goods--Labeling $183.100: Finished Goods-Canning $183.100 Work in Process--Labeling $196,000: Finished Goods-Canning $196,000 Finished Goods $242,800, Work in Process $242,800. MC costs support the company as a whole 34 Multiple Choice 2 points 8 00:58:22 Batch-level O Product-level Unit-level O Facilly-level 40 Under variable costing, only costs that change in total with changes in production levels are included in product costs. 2 points True or False 8 005752 True False