ndicate whether the following statements are true or false.

$1.$ A traditional costing system allocates overhead by means of

multiple overhead rates.

$2.$ Direct material and direct labor costs are easier to trace to

products than overhead.

$3.$ As manufacturing processes have become more automated, more

companies have chosen to allocate overhead on the basis of direct

labor costs.

$4.$ In activity$-$based costing, an activity is any event, action,

transaction, or work sequence that incurs cost when producing a

product