16. The two basic types of cost accounting systems are A) process cost and batch systems B) job order and batch systems. C) job order and process cost systems. D) job order and job accumulation systems. 17. Edmiston Company reported the following year-end information: beginning work in process inventory, $80,000; cost of goods manufactured, $750,000; beginning finished goods inventory, $50,000; ending work in process inventory, $70,000; and ending finished goods inventory, $40,000. How much is Edmiston's cost of goods sold for the year? A) $740,000 B) $760,000 C) $750,000 D) $770,000 18. During 2019, Cotte Manufacturing expected Job No.59 to cost $300,000 of overbead, S500,000 of materials, and $200,000 in labor. Cotte applied overhcad based on direct labor cost. Actual production required an overhead cost of $295,000, $570,000 in materials used, and $220,000 in labor. All of the goods were completed. How much is the amount of over-or underapplied overhead? A) $5,000 overapplied B) $35,000 overapplied C) $5,000 underapplied D) $35,000 underapplied 19. Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or overapplication of overhead for the period: Estimated annual overbead cost Actual annual overhead cost Estimated machine hours Actual machine hours $1,600,000 $1,575,000 400,000 390,000 A) B) C) D) $1,560,000 applied and $15,000 underapplied $1,560,000 applied and $15,000 overapplied $1,575,000 applied and neither under-nor overapplied $1,600,000 applied and $15,000 overapplied