The Overhead Costs for Product Y Are Estimated to Be

True/False

The overhead costs for product Y are estimated to be $160 000 and the activity level is estimated to be 80 000 machine hours. The actual costs are found to be $180 000 and the actual machine hours are 85 000. Under absorption costing this will necessitate an entry to the statement of comprehensive income to record a period cost of $10 000.