All the following are reasons why the accurate allocation of Factory Overhead is important, except for: Multiple Choice To control costs. To accurately determine a product's direct labor costs. To make better product mix decisions. To accurately determine a product's cost. To accurately determine the selling price of a product. What is the traditional costing method used by most companies to track manufacturing costs? Multiple Choice Absorption costing. Activity-based costing. Marginal costing. Average costing. Variable costing. Put the following ABC implementation steps in order. A. Use predetermined FOH allocation rates to assign FOH costs to cost objects (to jobs or to departments). B. Identify production activities and the FOH costs they cause. C. Compute predetermined FOH allocation rates for each FOH account. D. Create separate FOH accounts for significant/material FOH costs. Multiple Choice DACB DBCA BADC CDAB BDCA Multiple Choice $15 per machine hour. $10 per direct labor hour. $20 per square foot. $200 per purchase order. $150 per inspection. On March 31 , the end of the first quarter, a company had the following balances in its three factory overhead accounts: Supervision costs $500 debit; Factory Rental costs $250 credit; and Machine depreciation $400 debit. What journal entry is required to reset these accounts back to zero in preparation for the next quarter? Multiple Choice