Multiple Choice Question

The predetermined overhead rate is calculated:

at the start of the accounting period

during the accounting period

at the end of the accounting periodTrue or False Question

True or false: Materials requisitioned for use on a specific job are always considered to be direct materials.

True

False

Multiple Choice Question

The journal entry to record direct labor will result in a$($n$)$:

increase in assets and an increase in equity

decrease in assets and a decrease in liabilities

increase in assets and a increase in liabilities

decrease in assets and a decrease in equity