Question: 3. Answer True or False The predetermined overhead rate is computed using actual amount of overhead. (ii) Underapplied overhead means that the actual overhead was

3. Answer True or False The predetermined overhead rate is computed using actual amount of overhead. (ii) Underapplied overhead means that the actual overhead was less than the applied overhead. (iii) A service department is part of the factory operations, but does not produce the factory's output (iv) The predetermined overhead rate for the year is computed at the end of the year. [4]

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