URGENT: Please answer quick

Statement I: DEDUCTIONS from the Wark in Process Inventary represent the applicatian of overtead to production. Bath Statements are True Bath Statements are False Only Statement II is True Only Statement I is True Question 7 Statement I: When companies can identify mare than cne averhead coat driver they can improve jab coat accuracy by using muliple predetermined overheod rates. Bath Statements are True Only Statement II is True Only Statement I is True Bath Statements are False Question B Which of the following statements is FALSE? Overapplied overtvead is the amaurt by which cverhead applied to jobs using the predetermined cverhend rate exceads the averhead incurred during a period. Bath direct and indirect labar casts are recorded on the individual jab cost sheets. Overapplied or underapplied cverhend should be removed from the Factory Overhead account at the end of each accountion period. If overhasd is underapplied, it means that individual jabs have not been charged enaugh during the year and the cast of geods sold reparted is too kaw. Question 9 Statement Il: The direct bbar and overthead costs of providing services to dients are accumulated in a work-in-process accourt. Bath Statements are True Bath Statements are False Only Statement I is True Only Statement II is True Question 10 Statement I: Overhead cost is applied ta jobs by multiplying the estirnated allocation base by the predetermined overheod rate Statement II: Predetermined overhead rate is used to apply cverhead costs to jobs. It is computed before a peried begins. Buth Statements are True Only Statement I is True Only Statement II is True Bath Statements are False