Q. Which of the statements below is correct? Multiple Choice Using multiple predetermined overhead rates rather than a single predetermined plant wide overhead tate improves the job cost accuracy Job cost sheets contain entries for actual direct material actual direct labor, and actual manufacturing overhoed cost incurred in completing a job When estimated activity used for overhead application is less than the level of activity at capacity, the use of capacity based overhead rate decreases net operating income due to the cost of ide capacity job is not completed at the end of the period, then no manufacturing overhead cost would be applied to that job when a predetermined overhead rate is used Using a plantwide overhead rate based on direct labor hours will ensure that direct labor costs are correctly traced to jobs