QUESTION 21 Which of the following is an incorrect entry to record the flow of manufacturing costs through the accounts? Work-in-process XX Manufacturing overhead applied xx Cost of goods sold XX Work-in-process XX Work-in-process XX Manufacturing overhead control XX Stores control XX Stores control XX Accounts payable XX QUESTION 22 A sunk cost Cannot be avoided because it has already been incurred. Varies with the action taken and therefore has an effect on the decision to be made. Does not arise from an actual transaction recognized in the accounting records, but is relevant to the decision-making process. May be shifted to the future with little or no effect on current operations