Indicate Whether Each of the Following Statements Is True or False

Short Answer

Indicate whether each of the following statements is true or false.
A company's variable overhead cost represents such inputs as rent and depreciation.______
The variable overhead cost pool is normally assigned to products using many different allocation rates.______
Variable overhead and fixed overhead variances are calculated using the same basic formulas.______
Many companies choose not to calculate price and usage variances for variable overhead costs.______