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All of the following accounts are affected by overhead variance, except? a) raw material inventory....

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Accounting

All of the following accounts are affected by overhead variance, except?

a) raw material inventory.

b) finished goods inventory.

c) work in process inventory.

d) cost of goods sold.

e) all the accounts given are affected by overhead variance.

Which of the following statements about normal costing and actual costing approval is correct?

a) Actual costing uses estimates to calculate the overhead allocation rate.

b) Normal costing is more accurate than actual costing to assign overhead costs.

c) Actual costing is the preferred approach to assign overhead costs.

d) Normal costing allows more timely allocation of overhead costs.

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