Lean manufacturing values labor for contributions beyond labor tasks, using employee involvement that grants employees the responsibility and authority to make decisions about operations.

T or F

The cell conversion cost rate is very similar to the predetermined factory overhead rate because both include only factory overhead costs.

T or F

Lead time includes both value-added time and non-value-added time.

T or F

In a lean environment, the journal entry to record raw materials purchases would include a debit to the raw and in process inventory account.

T or F