Metalworks applies manufacturing overhead on the basis of direct materials used in production. During the current period, direct materials used for job #123 amounted to $22,545
If Metalworks' overhead rate is 0.65 of direct materials used, the overhead applied to job #123 for the period was $15,000.
Indicate whether the statement is true or false.
FALSE
Correct answer would have been $22,545 × 0.65 = $14,654.25
Business
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