Select the appropriate definition of each of the item listed below. Income Statement Cost of goods manufactured Work in process Gross margin Operating income Grata margin selling and administrative expenses The difference between sales revenue and cost of goods sold The total cost of goods completed during the current period Covers a particular period of time Cost of partially completed goods Fowler Company is a job-order costing company that produces customized bicycles. During the month of October, Fowler had three jobs in-process. Jobs 3, 4, & 5. By the end of the month all three jobs had been completed, with Job 3 being sold for $435. The following costs belong to each job: A Overhead is applied based on direct labor dollars. What is the overhead rate? What rate does Fowler use to price its jobs? What is the grow margin on Job 3? The Bayou company makes crab pots. During the current month, direct materials costing $126.000 were pot into production Direct labor of $78.000 was incurred and overhead equaled $84.000. Selling and administrate expenses totaled $66.000 for the month and the company manufactured 3.000 crab pots Assume there was no beginning inventory and that 2.800 crab pots were sold. Compute the per-unit product cost Compute the per-unit prime cost Compute the per unit conversion cost What is cost of goods sold for the month ' What is the cost of ending finished goods for the month