21.A debit balance in the Manufacturing Overhead account at the end of the period indicates that overhead has been under-applied to jobs.
22.If the manufacturing overhead account at month end has a credit balance before adjustment, this indicates that overhead is under-applied.
23.If actual overhead costs are less than the amount of overhead applied to production, this indicates that manufacturing overhead is over-applied.
24.The two steps required in activity-based costing are identifying separate activity cost pools and allocating each cost pool to the product using an appropriate cost driver.
25.Activity-based costing tracks cost to the activities that consume resources.
26.In activity-based costing, only one cost driver should be used in applying overhead.
27.An increase in an activity base must cause an increase in actual overhead costs incurred for that base to be considered a cost driver.
28.Activity-based costing uses multiple activity bases to assign overhead costs to units of production.
29.Activity-based costing systems always result in more accurate measurements of unit costs.