8 Question 5 1 point Muir Technology uses a normal costing system and allocates manufacturing overhead (MOH) costs to products based on direct labor costs. The following data are available for the most recently completed period. Estimated Actual Direct labor hours 1,000 1,100 Direct labor rate per labor $20 $21.50 hour Machine hours 15,600 14,800 Manufacturing $925,000 $925,000 overhead costs At the end of the year, which of the following statements is true? O Manufacturing overhead will be over-applied by $168,812.50 O Manufacturing overhead will be under-applied by $168,812.50 O Manufacturing overhead applied will equal actual manufacturing overhead Manufacturing overhead costs will be under-stated until the adjusting entry is made None of the above (i.e., all of these statements are false) Question 8 2 points Chief Company uses job-order costing. On August 1, Chief had only one job in process, Job 815, with a cost of $1,750 as of August 1. Jobs 816 and 817 were started in the month of August. Data on costs added to each job in August are as follows: Job Job Job 815 816 817 Direct $11,200 $5,075 $1,665 materials Direct $2,240 $1,000 $2,300 labor Overhead at Chief Company is applied to production at the rate of 60% of direct labor cost. Job 817 was completed and sold on August 26. No other jobs were completed or sold in August. What is Chief Company's cost of goods sold for the month of August? O $3,152 $2,780 $5,345 $10,380 O None of the above