Which of the following statements is not true about the use of a normal costing system
A)Actual overhead costs are never directly assigned to products.
B)Actual overhead costs never flow directly through the inventory accounts.
C)Individual product costs are usually not adjusted for differences between actual and budgeted costs.
D)A normal costing system requires waiting until after a period end to complete the costing for all jobs completed during a period.

Question

Quizplus · Accepted Answer

A normal costing system does not require waiting until after a period end to complete the costing for all jobs; it uses estimated overhead rates to apply overhead costs during the period.

Which of the Following Statements Is Not True About the Use