What are the transfers from the Finished Goods Inventory called? Multiple Choice Cost of Goods Manufactured. Cost of Goods Completed. Cost of Goods Sold Cost of Goods Available. Manufacturing overhead applied on the basis of direct labor-hours was $122,000, while actual manufacturing overhead incurred was $128,000 for the month of April. Which of the following is always true given the statement above? Multiple Choice Actual direct labor-hours were less than budgeted direct labor-hours. Overhead was overapplied by $6,000. Overhead was underapplied by $6,000. Actual direct labor-hours exceeded budgeted direct labor-hours. The Work-in-Process Inventory account of a manufacturing firm has a balance of $3,180 at the end of an accounting period. The job cost sheets of two uncompleted jobs show charges of $480 and $280 for materials used, and charges of $480 and $620 for direct labor used. Overhead is applied as a percentage of direct labor costs. The predetermined rate is: Multiple Choice O 240.9% O 120.0%. O 41.5%. O 83.3% One of the primary differences between job costing for service firms and job costing for manufacturing companies is service firms generally: Multiple Choice have no Work-in-Process Inventory. have less direct labor. o do not use predetermined overhead rates. O use fewer direct materials