D. Debits Work in Process Inventory and credits Factory Overhead 32. A company allocates overhead based on direct labor costs and predicts total direct labor costs of $60,000 and total overhead costs of $150,000 for the coming year. What is the predetermined overhead rate that the company will use to assign overhead during the year? A. 40% B. 60% C. 100% D. 250% 33. A company's predetermined overhead allocation rate is 125% of its direct labor costs. How much overhead will the company apply to a job that requires total direct labor costs of $40,000? A. $32,000 B. 550,000 C. $75,000 D. $160,000 34. In job order costing, what journal entry is made to apply factory overhead to production? A. Debits Accounts Payable and credits Factory Overhead B. Debits Factory Overhead and credits Work in Process Inventory C. Debits Finished Goods Inventory and credits Factory Overhead D. Debits Work in Process Inventory and credits Factory Overhead _35. In job order costing, what journal entry records the cost of goods sold? A. Debits Accounts Receivable and credits Sales B. Debits Cost of Goods Sold and credits Finished Goods Inventory C. Debits Finished Goods Inventory and credits Work in Process Inventory D. Debits Work in Process Inventory and credits Factory Overhead