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Indicate whether the following statements are either TRUE or FALSE. [Select] 1. Job order costing...

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Accounting

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Indicate whether the following statements are either TRUE or FALSE. [Select] 1. Job order costing is applicable to manufacturing firms only and not service firms. Select 1 2. Under a job order costing system, individual jobs are always charged with actual overhead costs when they are transferred to finished goods. [ Select] 3. Actual factory overhead incurred in a job costing system is debited to a Factory Overhead general ledger account and credited to various other accounts. (Select) 4. If actual overhead incurred during a period exceeds applied overhead, the difference will be a credit balance in the Factory Overhead account at the end of the period

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