Choose TRUE or FALSE as applicable next to each of the following items as they pertain to under/over-applied manufacturing overhead at the end of the period.

Group of answer choices

If actual manufacturing overhead costs exactly equal estimated costs, there will be no under-applied or over-applied manufacturing overhead. [ Choose ]

Differences between the actual versus estimated allocation base quantity will not cause under/over-applied manufacturing overhead. [ Choose ]

If actual manufacturing overhead incurred exceeds estimated manufacturing overhead allocated, a net credit balance will remain.