(TCO F) Which of the following statements istrue?I. Overhead application may be

(TCO F) Which of the following statements istrue?I. Overhead application may be made slowly as a job is workedon.II. Overhead application may be made in a single applicationat the time of completion of the job.III. Overhead application should be made to any job notcompleted at year-end in order to properly value the work inprocess inventory.