When should the predetermined overhead rate used to apply overhead to jobs in 2023 be determined? a. At the end of 2022 during the budgeting process b. During the second quarter of 2023 after some jobs have been completed c. At the end of 2023 when all jobs have been completed d. A company should attempt to specifically allocate actual overhead to jobs instead of using a predetermined overhead rate Period costs are immediately expensed on the income statement, while product costs are inventoried on the balance sheet until inventory is sold. a. True b. False