Question 21 Which of the following is correct with respect to closing out underapplied manufacturing overhead to Cost of Goods Sold versus closing it out to Work-in-Process Inventory. Finished Goods Inventory, and Cost of Goods Sold? Not yet answered Marked out of 0.50 Flag question O a. The balance in the Work-in-Process account after allocation will be lower if the underapplied overhead is closed out by allocating it to all appropriate accounts. O b. Operating income will be higher if all of the underapplied overhead is closed out to Cost of Goods Sold. Oc Cost of Goods Sold will be lower if the underapplied overhead is closed out by allocating it to the inventory accounts as well as to Cost of Goods Sold. Od. The balance in the Work-in-Process account after allocation will be the same under either method. Oe. None of given answer is correct. Question 22 Job order costing and process costing both: Not yet answered Marked out of 0.50 a. All the given answers are correct, Ob use the same manufacturing accounts, including Manufacturing Overhead, Raw Materials, Work in Process, and Finished Goods. Oc assign direct materials cost, direct labor cost, and manufacturing overhead costs to products. O d. both allocate applied manufacturing overhead cost to product cost. O e compute product cost per unit in the same manner. P Flag