True Or False

Required 1 Predetermined overhead rates are calculated after the production period when the actual costs are known.

Required 2 At the end of the accounting cycle, the balance of the Manufacturing Overhead account should be zero.

Required 3 The change in the manufacturing environment from being labor-intensive to highly automated has had no impact on the allocation cost methods.

Required 4 Jiffy Cake Mix Company, having a homogeneous product, would use process costing for its manufacture of cake mixes.

Required 5 A customer profitability analysis will identify customer-driven costs and identify those with who the company may choose to not engage with.