Question 7 10 Points If the factory overhead account has a negative balance, factory overhead is said to be: (A) underapplied B in error C underabsorbed overapplied Question 8 10 Points When using job order costing for a professional service business, the primary product (service) costs are: A Direct Materials and Overhead B Direct Materials and Direct Labor Direct Labor and Overhead D) Direct Materials, Direct Labor, and Overhead Question 9 10 Points Managerial accounting differs from financial accounting in that managerial accounting Is used primarily by external decision makers (B Is required by Generally Accepted Accounting Principles (GAAP) C Tends to report on the company as a whole rather than segments of the company D) is focused on the future Below are the costs for a dairy processing company for the month of July. What is the company's total period costs? Cost of milk purchased from local dairy farmers $500,000 Depreciation on the computer of the salesperson $300 Property tax on the dairy processing plant $10,000 Gasoline used to operate refrigerated trucks delivering finished dairy products to grocery stores $20,000 The CEO's salary $90,000 Depreciation on refrigerated trucks used to collect raw milk from local dairy farmers $25,000 Plastic gallon containers in which milk is packaged $50,000 Research and development on improving milk pasteurization process $40,000 Radio advertising for the Company's products $4,000 Wages paid to the machine operators the at dairy processing plant $35,000 A $154,300 B$164,300 $144,300 D$150,300 E $134,300