QUESTION 12 The job cost sheet for a project shows a total product cost of $3,200. All posting is complete and the job will be transferred to finished goods tomorrow. The same job cost sheet shows direct material cost of $1,400 and direct labor cost of $800. Therefore, the amount of the applied overhead to the job is $2,200 $1,800 $2.400 $1,000 @ $300 QUESTION 13 For product costs associated with a particular product to be reported on the income statement The product may be in any of the manufacturer's inventory accounts. The product must still be in Work in Process Inventory Product costs will never be expensed on the income statement The product must be sold. The product must be transferred to Finished Goods Inventory