Why is identification of a relevant range important? It is required under GAAP. a. b. Cost behavior outside of the relevant range is not linear, which distorts CVP analysis. It directly impacts the number of units of product a customer buys It is a cost that is incurred by a company that must be accounted for. The two basic types of cost accounting systems are job order and job accumulation systems. b. job order and process cost systems. c process cost and batch systems d job order and batch systems. Syse Cost of goods manufactured equals $85,000 for 2017. Finished goods inventory is $2,000 at the beginning of the year and $5,500 at the end of the year. Beginning and ending work in process for 2017 are $4,000 and $5,000, respectively. How much is cost of goods sold for the year? $87,500 a. Ob $83,000 O $81,500 d. $88,500 A company expected its annual overhead costs to be $1,500,000 and direct labor costs to be $1,000,000. Actual overhead was 51,450,000, and actual labor costs totaled $1,100,000. How much is the company's predetermined overhead rate to the nearest cent? a $1.45 b.$1.31 Oc $1.50 d. 51.37 Gulick Company developed the following data for the current year Beginning work in process inventory $240,000 Direct materials used 144,000 Actual overhead 288,000 Overhead applied 216,000 Cost of goods manufactured 264,000 Total manufacturing costs 720,000 Gulick Company's direct labor cost for the year is $72,000. a. b. $360,000. c$216,000 d. $288,000