1. Managerial accountants facilitate the decision-making process within an organization.

   True

   False

1. If the overhead variance is immaterial, it is allocated among the ending balances of Work in Process, Finished

   Goods, and Cost of Goods Sold.

   True

   False

The best criterion for determining if a given action or choice is ethical is to determine if it is legal, because all legal actions are inherently ethical.

1. True

   False

1. The depreciation cost for a manufacturing building is an example of a committed fixed cost:

   True

   False

Value chain analysis concerns the study of value-producing activities, stretching from basic raw materials to the final consumer of a product or service.

1. True

   False

1. A an actual costing system determines unit cost by adding actual direct materials, actual direct labor, and estimated overhead.

   True

   False