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Estimating manufacturing overhead rates and applying overhead is a waste of time since you don't know what the actual cost will be. Moreover, it creates

"Estimating manufacturing overhead rates and applying overhead is a waste of time since you don't know what the actual cost will be. Moreover, it creates inaccuracies in the cost of goods sold for the period." Do you agree with this statement?Justify your argument giving three reasons. (6 marks)

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