5AVE THE FIUf USING naming convention first name last name-Managerial Accounting Exam AND upload it into d2a under Assignments. 1 In process costing, the cost for direct materials, direct labour and manufacturing overhead are assigned to each job. TRUE FALSE A departmental overhead rate is calculated by multiplying the estimated total manufacturing overhead costs of the 2 department by the estimated total quantity of the department's cost allocation base. TRUE FALSE 3 Unique or custom-made goods use a job costing system TRUE FALSE 4 In a process costing system with a series of manufacturing processes, each manufacturing process will have a wip irventory actount TRUE FALSE 5 Which of the following condition(s) favours using departmental overhead rates in place of a plantwide overhead fate? A) Manufacturing overhead represents a small proportion of total cost. B) Different jobs or products use the departments to a different extent. C) Departments use a similar amount of indirect costs. D) Products spend the same amount of time in each department. 6. The allocation base selected for each department should be the cost driver of the costs in the departmental overhead pool. TRUE FALSE One key to analyzing short-term business decisions is to use a contribution margin approach that separates variable costs from 7 fired costs TRUE FALSE 8 Costs that differ between altematives are relevant. TRUE FALSE 9 Budgets provide benchmarks that help managers evaluate performance. TRUE FALSE 10 A rolling budget is a budget that is continuoushy updated so that the next 12 months of operations are always budgeted. TRUE FALSE