At the end of the accounting period,manufacturing overhead costs are applied to uncompleted jobs using the same predetermined overhead rate that is used to apply manufacturing overhead costs to completed jobs.

Question

Quizplus · Accepted Answer

This statement is true. Predetermined overhead rate is determined at the beginning of the period and is used to allocate overhead costs to both completed and uncompleted jobs during the period. By the end of the period, overhead costs are applied to the uncompleted jobs using the same overhead rate.

At the End of the Accounting Period,manufacturing Overhead Costs Are