a) "A discussion of product costing systems is not relevant to our company because we only produce services, not products." Critique this statement. (5 marks) ANSWER: b) Identify and explain the 2 accepted methods for closing out any overapplied or underapplied manufacturing overhead. (2 marks) When is one method more likely to be used than the other? (2 marks) When should the overapplied or underapplied overhead account be closed? Why?12 marks)