t of Which of the following statements is true? 1. Overhead can be applied slowly as a job is worked on. II. Overhead can be applied when the job is completed. III. Overhead should be applied to any job not completed at year-end in order to properly value the work in process inventory. Select one: O a. Only statement I is true. b. Statements I, II, and III are all true. Oc. Both statements I and II are true. Od. Only statement II is true.