Question 23 (5 points) Which of the following is a true statement? Most directly traceable fixed costs are not controllable by the profit center manager. More costs become less controllable as one moves down to each lower level of managerial responsibility. A distinction should be made between controllable and noncontrollable costs if reporting information to be used in assessing a division's performance when practicing responsibility accounting All variable costs are controllable costs, and all fixed costs are noncontrollable costs Question 19 (5 points) The Cash Payback analytical tool All of these statements are true Does not consider the overall profitability of an investment Is useful as an initial screening' method Does not consider the time value of money Does not consider cash flows beyond the payback period Question 22 (5 points) At the end of the accounting period, any underapplied overhead for the period would require a credit to the Cost of Goods Sold account. True False