Question 1 1 pts Which of the following statements about cost management are true: 1. Cost management is more about putting the appropriate plans in place and is less about the actions taken 2. An organization's cost management goal is to operate at zero cost 3. Cost management involves the consideration of both the short run and the long run O Statement 1 only Statement 2 only Statement 3 only Statement 1 and 3 only None of the above UD Question 2 1 pts Which (if any) of the following four accounting entries (a - d) of a manufacturing firm is incorrect? When raw INDIRECT materials are transferred from the warehouse to the factory and used in the production process: (a) the raw INDIRECT materials inventory account is credited (b) the Manufacturing Overhead account is debited When manufacturing overhead cost is allocated to output c) the Accounts Payable account (that relates to the purchase of the manufacturing overhead) is credited (d) the Work in Progress account is debited O Entry (a) Entry (6) Entry le) O Entry (d) All entries incorrect correct