IBVO ryCosling method. Both keep track of prime costs, but mot overhond items Both use the same manufacturing technique. Both require inputs of direct materials, direct lahor, snd overtiead. lorma o wik signu 31 The basic inventory equation can be represented by a. BB + TI-TO+ ER. K BB- TI- TO + ER. BB + EB- TI + TO. d. BB +TO- TI- EB uld b Fetler C. of th Chapter 7 fitet 32. Which of the following is NOT An audit engagement. b A home renovation, E Aast food order. d. A lawsuit co ol The following information is for questions 33 -34. KC Manufacturing uses job costing. Its annual estimated manufacturing overhead and machine hours (the allocation base) were $120.000 and 2,400 hours, respectively. Job#06-07 was completed in July and incurred direct mnteriais S4,R00, direct labor $3,400, and 85 machine hours, 33. What is the predetermined overhead rate for KC Manufacturing? a $35 per direct labor hour. b. $45 per direet labor dollar. . $50 per machine hour. d. Cannot be determined. 34. What's the total cost for Job#06-07? a. $9,350 d. Cannot be determined. 34. What's the total cost for Job#06-07? a. $9,350 b. $24,750 c. $22,050 d. $12.450

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