Even if a business sells six products, it is possible to estimate the break-even point. True False The job order costing system is used by service firms to determine revenues, expenses, and ultimately profit. True False Conversion and direct materials are generally both added at the end of the production process. True False For a period during which the quantity of product manufactured equals the quantity sold, income from operations reported under absorption costing will be smaller than the income from operations reported under variable costing. True False In a process costing system, indirect materials are charged to Work in Process. True False Changes in the quantity of finished goods inventory, caused by differences in the levels of sales and production, directly affect the amount of income from operations reported under absorption costing. True False If income from operations for a division is $30,000, sales are $263, 750, and invested assets are $187, 500, the investment turnover is 1.3. True False Changes in technology, machinery, or production methods may make past cost data irrelevant when setting standards True False Past performance is the best overall basis for evaluating current performance and assessing the need for corrective True False Companies prepare contribution margin reports by product segments and other market segments because products contribute to profitability in various ways. True False