One of the reasons that James Company needs to estimate the costs of its joint products is to determine selling prices for them. True False When using multiple production department rates, all overhead costs are allocated to production departments and none of them are directly traced to support departments. True O False The final step in using activity-based costing to apply overhead to products is applying production activity costs to products using cost drivers for each production activity. True False Under the direct method of allocating support department costs to production departments using ABC, all support department costs are allocated directly to production departments. True False Which of the following is a true statement with regard to the terms used when referring to manufacturing costs and the transfer of these costs to departments and products? a. Cost application refers to determining the number of cost drivers needed. b. Cost distribution refers to transferring overhead costs to support and production departments. c. Allocating costs refers to determining which general ledger accounts to use in the journal entry process. d. Cost assignment refers to transferring overhead costs to support and production departments