For product costs associated with a particular product to be reported on the income statement: Group of answer choices The product must be sold. The product must be transferred to Finished Goods Inventory. The company must expect to sell the product during the next twelve months. The product must still be in Work in Process Inventory. The product may be in any of the manufacturer's inventory accounts.

Moody corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. at the beginning of the year, the company made the following estimates: machine-hours required to support estimated production 100,000 fixed manufacturing overhead cost $ 650,000 variable manufacturing overhead cost per machine-hour $ 3.00 required: 1. compute the plantwide predetermined overhead rate. 2. during the year, job 400 was started and completed. the following information was available with respect to this job: direct materials $ 450 direct labor cost $ 210 machine-hours used 40