Which of the following statements correctly describes how Cost of Goods Sold (COGS) is determined under the periodic inventory system?

To determine the cost of producing each job or job lot, companies use a:

As production takes place, all manufacturing costs are added to the:

A cost that changes in total in proportion to changes in volume of activity is a(n):

On a traditional income statement, Cost of Goods Sold (COGS) reports the:

The costs assigned to a job that has been sold are reported on the:

Overhead is considered overapplied if:

Which of the following formulas is used to determine the target cost in cost accounting?

Based on the table below, which shows inventory purchases and sales for July, what is the Cost of Goods Sold (COGS) for July under the perpetual inventory system using FIFO?\begin{array}{|c|c|c|}\hline\textbf{Date} & \textbf{Transaction} & \textbf{Units @ Cost} \\\hlineJuly\ 1 & Beginning Inventory & 100\ @\ \$10 \\July\ 5 & Purchase & 50\ @\ \$12 \\July\ 10 & Sale & 80\ \\July\ 20 & Purchase & 70\ @\ \$13 \\July\ 25 & Sale & 90 \\\hline\end{array}What is the cost of goods sold for July?