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Which of the following statements is false? Multiple Choice A cost driver refers to a factor, such as machine-hours, that causes overhead costs. O A time ticket records the amount of machine hours spent on a specific job. Overhead application refers to the process of assigning overhead cost to specific jobs. O A company that uses a single predetermined overhead rate often refers to it as a plantwide overhead rate. A unit product cost is calculated by: Multiple Choice Dividing the total manufacturing and nonmanufacturing costs assigned to a job by the total number of units contained in the job. O Dividing the total manufacturing costs assigned to a job by the total number of units contained in the job. O Dividing the total nonmanufacturing costs and normal costs assigned to job by the total number of units contained in the job. O Dividing the total nonmanufacturing costs assigned to a job by the total number of units contained in the job. A unit product cost is calculated by: Multiple Choice Dividing the total manufacturing and nonmanufacturing costs assigned to a job by the total number of units contained in the job. Dividing the total manufacturing costs assigned to a job by the total number of units contained in the job. Dividing the total nonmanufacturing costs and normal costs assigned to job by the total number of units contained in the job. O Dividing the total nonmanufacturing costs assigned to a job by the total number of units contained in the job. Which of the following statements is false regarding job-order costing? Multiple Choice O It can be used to calculate a job's unit product cost. It is used for manufacturing companies, but not service companies. It accumulates each job's costs on a job cost sheet. It is used in situations where many different products, each with unique features, are produced each period. A unit product cost includes: Multiple Choice Estimated direct labor cost used by the job. Actual direct material cost used by the job. Estimated direct material cost used by the job. Actual manufacturing overhead cost used by the job. A predetermined overhead rate includes: Multiple Choice O the actual total amount of the allocation base in the denominator. the fixed portion of the actual manufacturing overhead cost in the denominator. O the estimated total amount of the allocation base in the denominator. the fixed portion of the estimated manufacturing overhead cost in the denominator. Which of the following statements is true regarding the formula Y= a + bx? Multiple Choice Y = The estimated total amount of the allocation base. Y = The estimated total manufacturing overhead cost. Y = The estimated total fixed manufacturing overhead cost. Y = The actual total amount of the allocation base