The status of all job activity occurring during January for XYZ Manufacturing is shown below: Job # X-1 X-2 X-3 X-4 Beginning WIP Inventory $0 $15,000 $0 $26,000 January Direct costs incurred: Direct Material $13,000 $24,000 $9,000 $11,000 Direct Labor $ 6,000 $ 2,000 $7,000 $13,000 Job status - end of January Unfinished Finished and Sold Unfinished Finished not Sold XYZ applies manufacturing overhead (M/O) to jobs using an annual predetermined M/O rate of $0.50 per Direct Labor DOLLAR (NOT Hour). Actual manufacturing overhead incurred during January was $10,500. What is the over or under applied M/O for January? Indicate the dollar amount and whether over or under applied. $14,000 Under $3,500 Over $3,500 Under $14,000 Over What is January's Cost of Goods Sold? $42,000 $41,000 $26,000 $27,000 January ending Finished Goods Inventory would be valued by the costs associated with which jobs? O X-4 All four jobs O X-2 and X-4 O X-1 and X-3 January Cost of Goods Manufactured would be valued by the costs associated with which jobs? X-2 X-2 and X-4 O All four jobs X-4 January ending Work in Process Inventory would be valued by the costs associated with which jobs? O X-1 and X-3 O X-4 O All four jobs O X-2 and X-4 If XYZ chose to use actual costing (on a monthly basis) instead of normal costing, what actual Manufacturing overhead rate per Direct Labor dollar would be used for the month of January? $1.333 $0.750 $2.667 $0.375