QUESTIONS 1 points Save Answer Teoh Company's predetermined overhead rate is based on direct labor costs. The company's Work in Process inventory account has a balance of $2,400, which relates to the one job that was not complete at the end of an accounting period. The related job cost sheet includes total charges of $400 for direct materials and $1,000 for direct labor. The company's predetermined overhead rate, as a percentage of direct labor costs, must be: O 100% 50% 0 40% O 17% QUESTION 10 1 points Save Answer Which of the following statements is (are) true? O Companies that produce many different products or services are more likely to use job-order costing systems than process costing systems. Costs are traced to departments and then allocated to units of product when job-order costing is used. Job-order costing systems are used by service firms and process costing systems are used by manufacturers. O All of the above