choice that best completes the statement or answers the question Which of the following statements is trwe regarding current manufacturing companies? a. Most prodaction labor time is spent running producticon equipment rather dhan actualy physically working on a product b. Production processes are highly automated and more complex c. Companies produce a wide variety of products in individual facilities d. All of the above are true Receiving provides 12,000 receiving hours and costs S60,000 per year. What is the activity ate for receiving? $14 per receiving hour b. $5 per receiving hour c. $4 per receiving hour d $0.20 per receiving hour 3. Using traditional costing rather than Activity-Based Costing might lend to which of the following pro a overpricing products b. under-pricing products c discontinuing profitable operations d. all of the above Activity-based management seeks to maximize . for customers while minimizing- activities. a. value, costs b. profit, loss e. efficiency, waste d. output, costs S. Which of the following stanements are true regarding Activity-Based Costing? a. Costs are allocated based on a pre-determined overhead rate for each cost pool b. Transitioning from traditional costing methods to Activity-Based Costing is a relatively simple process that most companies complete quickly c. Activity-Based Costing results in a different amount of total overhead applied than under traditional costing methods. d. Activity-Based Costing originated in the early 1900's ABC differs from traditional product costing in which of the following ways? a. Multiple cost drivers are used b. It is completely accurate. c. Estimated costs are used d. Overhead is allocated to products