Question 11 Which of the following is a product level cost driver? number of machine setups and number of inspections direct labor hours number of product designs number of machine setups number of inspections Question 12 3.33 pts Cost of goods manufactured equals $65,000 for 2013. Finished goods inventory is $2,000 at the beginning of the year and $5,500 at the end of the year. Beginning and ending work in process for 2013 are $4.000 and $5,000, respectively. How much is cost of goods sold for the year? $61,500 $63,000 $67,500 $68,500 Question 13 Activity-based costing allocates overhead costs to activity cost pools, and it then assigns the activity costs to products and services by means of cost drivers. assigns activity cost pools to products and services, then allocates overhead back to the activity cost pools. allocates overhead directly to products and services accumulates overhead in one cost pool, then assigns the overhead to products and services by means of a cost driver