Which of the following is true of a unit-based costing system? a. It estimates the time to perform one unit of activity. b. It measures the demands that cost objects place on support activities. c. It assigns only manufacturing costs to products. d. It offers greater product costing accuracy than an activity-based costing system Unit-based product costing uses which of the following procedures? a. All overhead costs are expensed as incurred b. Overhead costs are traced to departments, then costs are traced to products. c. Overhead costs are traced directly to products. d. Overhead costs are traced to activities, then costs are traced to products 3 A predetermined overhead rate is calculated using which of the following formulas? a. Actual annual overhead / budgeted annual driver level b. Budgeted annual overhead/ budgeted annual driver level c. Budgeted annual overhead / actual annual driver level d. Actual annual overhead /actual annual driver level YA costing system that uses actual costs for direct materials and labor and predetermined overhead rates to apply overhead is called a(n) a. actual costing system b. standard costing system. normal costing system. d. activity-based costing system