Use the information below to answer the following two questions: Falcon Company uses a job-order costing system and applies manufacturing overhead (MOH) based on direct labor cost (DLC). At the beginning of July, the following information was estimated Estimated MOH S 318.750 Estimated DLC S 425,000 Partial activity posted during the month of July is shown in the T-accounts below Raw Materials (All Direct Work in Process Beg Bal 72,500 Purchases 142,000 End Bal S 69,450 DM Used Actual DLC MOH Beg Bal 73,000 418,000 End Bal 75,000 Manufacturing Overhead Finished Goods Actual Incurred S 316,250 3,000 Beg Bal S COGM End Bal 4,500 10 Cost of Goods Manufactured (COGM) for the month of July was: A. S874,550 B. S876,550 C. S877,300 D. 871,500 E. None of the above 11 At the end of July, Falcon closed out its over-/under-applied MOH entirely to COGSThis entry would have included a: A. S B. S C. S 2,500 credit to Cost of Goods Sold 2,500 debit to Cost of Goods Sold 2,750 credit to Cost of Goods Sold 2,750 debit to Cost of Goods Sold E. None of the above