Companies calculate the predetermined overhead rate at the beginning of an accounting period using the actual values of overhead costs

Service companies do not have product costs, so they often consider all operating expenses as part of their cost of service

Indicate whether the statement is true or false

Jayden, a factory manager for a multinational plastics manufacturing company, received an e-mail from the CEO explaining an important change being made by the company. Jayden’s factory along with three others would be changing their production lines to begin manufacturing plastic medical containers. As a middle manager, Jayden will be expected to

a. oversee the change process and coordinate the department managers in his factory. b. review whether this change seems like the best strategy for the company to follow. c. inform the stockholders about the company’s move into medical products. d. be solely focused on ensuring the company’s taxes are submitted on time.