Question 14 1 pts Fake Plastic Trees Inc, accumulates all its indirect costs in a single pool and then allocates them to each unit of output produced using direct labour hours. It allocates its indirect cost to units of output throughout the period. The information provided below relates to the period 1 Jan 2020 to 31 December 2020 Budgeted total indirect cost $700,000 Actual total indirect cost $800,000 Budgeted total quantity of direct labour hours 10,000 Actual total quantity of direct labour hours 12,000 Based on the information above, the total amount of indirect cost that would be allocated to all the units of output produced by the company in 2020 after the end-of-period adjustments are made is closest to: O $700.000 $800,000 $100,000 $70 Consider the following statements about equivalent units (EU) and physical units (PU) with regards to a particular group of units of output that is being manufactured in a factory. Which of them are true? 1. Its EU and PU will never be the same. 2. Its EU must always increase from one day to the next, even when the factory is not operating 3. Its EU is determined by comparing the ratio of cost ($) spent on conversion to cost (S) spent on materials Statement only Statement 2 only Statement 3 only Statement 2 and 3 only O None of the statements are true