Which one of the following is correct about variable costing systems? Select one: a. Calculate product cost as the sum of directs materials, direct labor, manufacturing overhead costs, and selling cost b. Calculate product cost as the sum of directs materials, direct labor and manufacturing overhead costs C. Focuses on both variable and fixed costs. d. Normally result into a lower product cost compared to absorption costing systems Which of following is not correct about normal costing? Select one: a. Actual direct materials cost is traced to jobs b. Direct manufacturing costs is applied to jobs based on a predetermined rate c. Product cost does not include selling and administrative expenses d. Actual direct labor cost is traced to jobs e. The job cost will include the applied indirect manufacturing cost Company XYZ uses machine hours to allocate its manufacturing overhead. The company estimates that total machine hours to be operated next year are 190,000 hours. The estimated variable overhead is $4 per hour and the estimated fixed overhead costs are $152,000. Calculate the predetermined overhead rate. Select one: a. $4.80 b. $0.80 c. None of the answers given d. $0.21 e. $5.80 Which one of the following will likely use a job-order costing system? Select one: a. An aircraft manufacturing company b. A water bottling company c. A pencil manufacturing company d. A dairy product company