Which of the following statements about using a plantwide overhead rate based on direct labor is correct?Multiple ChoiceIt is often overly simplistic and incorrect to assume that direct labor$-$hours is a company's only manufacturing overhead cost driver.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.Using a plantwide overhead rate based on direct labor costs will ensure that direct labor costs will be correctly traced to jobs.