[The following information applies to the question displayed below.] St. James, Inc., currently uses traditional costing procedures, applying $1,029,000 of overhead to products Beta and Zeta on the basis of direct labor hours. The company is considering a shift to activity-based costing and the creation of individual cost pools that will use direct labor hours (DLH), production setups (SU), and number of parts components (PC) as cost drivers. Data on the cost pools and respective driver volumes follow. Pool No.1 (Driver: DLH) 1,600 3,200 $240,000 Pool No.2 (Driver: SU) 35 Product Beta Zeta Pool Cost Pool No.3 (Driver: PC) 2,350 810 $474,000 55 $315,000 26. The overhead cost allocated to Beta by using traditional costing procedures would be closest to: A. $480,340. B. some other amount. C. $568,000 D. $777,000. 27. E. $343,000. As work is completed on a job, costs for the job are collected (debited) in which of the following accounts? A. Raw Materials Inventory B. Work in Process Inventory Finished Goods Inventory D. Cost of Goods Sold none of the above MU E. 28. Cost allocation is A. the process of tracking both direct and indirect costs associated with a cost object. B. the process of determining the actual cost of the cost object. C. the assignment of indirect costs to the chosen cost object. D. a function of cost tracing. E. none of the above 29. If the manufacturing overhead account has a credit balance at the end of the period, then A) Manufacturing Overhead must be overapplied. B) Manufacturing Overhead must be underapplied. C) Cost of Goods Sold must be understated. D) Work-in-Process Inventory must be understated