Question 21 5 pts In a job order costing system manufacturing overhead is applied to jobs using actual and not estimated costs. True O False Question 22 5 pts Which of the following statements about using a plantwide overhead rate based on direct laboris correct? Using a plantwide overhead rate based on direct labor costs will ensure that direct labor costs will be correctly traced to jobs. The labor theory of value ensures that using a plantwide overhead rate based on direct labor will do a reasonably good job of assigning overhead costs to jobs. Using a plantwide overhead rate based on direct labor-hours will ensure that direct labor costs are correctly traced to jobs It is often overly simplistic and incorrect to assume that direct labor-hours is a company's only manufacturing overhead cost driver. Question 23 5 pts In job order costing, the predetermined overhead rate multiplied by a job's actual usage of the allocation base equals