2. Describe what is meant by under- and overapplied overhead. 3. Explain how a plantwide overhead rate, using a unit-based driver, can produce distorted product costs. In your answer, identify two major factors that impair the ability of plantwide rates to assign cost accurately 4. What are non-unit-related overhead activities? Non-unit-based cost drivers? Give some examples. 5. What is an overhead consumption ratio? 6. Overhead costs are the source of product cost distortions. Do you agree or disagree? Explain. 7. What is activity-based product costing? 8. What are the six steps that define the design of an activity-based costing system? 9. Explain how the cost of resources is assigned to activities. What is meant by the phrase "unbundling the general ledger accounts"? 10. What is a bill of activities? 11. Identify and define two types of activity drivers. 12. What are unit-level activities? Batch-level activities? Product-level activities? Facility-level activities? 13. How does TDABC simplify ABC? 14. Explain why it is easy to update a TDABC model. 15. Describe two ways to reduce a complex ABC system. Of the two ways, which has the most merit