Please select two of the following questions listed and post your answers to the discussion forum. What is job order costing? What is absorption costing? What is normal costing? How is the unit product cost of a job calculated? Explain the four step process used to compute a predetermined overhead rate. What is the purpose of the job cost sheet in a job order costing system? Explain why some production costs must be assigned to products through an allocation process. Why do companies use predetermined overhead rates rather than actual manufacturing overhead costs to apply overhead to jobs? What factors should be considered in selecting an allocation base to be used in computing a predetermined overhead rate? If a company fully allocates all of its overhead costs to jobs, does this guarantee that a profit will be earned for the period? Would you expect the amount of applied overhead for a period to equal the actual overhead costs of the period? Why or why not? What is under-applied overhead? Over-applied overhead? What is a plantwide overhead rate? Why are multiples overhead rates, rather than a plant-wide overhead rate, used in some companies?