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24 July, 19:40

Which of the following statements is false?

a. Indirect labor is assigned as a part of overhead.

b. The cost of a job includes direct materials, direct labor, and applied overhead.

c. Actual overhead costs always enter the Work-in-Process account.

d. The use of normal costing means that overhead is applied to each job using a predetermined rate.

e. None of these choices are correct.

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  1. 24 July, 20:15
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    Answer: Actual overhead costs always enter the Work-in-Process account.

    Explanation:

    The work-in-process account is an account where the value of goods yet to be completely produced are recorded while the overhead cost is simply a business running cost, that is cost on expenses the business makes to keep functioning.

    Overhead cost is not recorded in work-in-process account, rather it is recorded as business expenses.
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