true/false

If fixed costs go up, and all other factors remain the same, the margin of safety will become larger. The contribution margin for service companies is calculated by subtracting fixed costs from service revenue. For a merchandising company, the budgeted sales equals the number of units budgeted for sale multiplied by the budgeted selling price per unit. The IMA Standards of Ethical Practice include confidentiality, competence, credibility, and integrity. The cost of indirect materials is transferred out of the Manufacturing Overhead account and accumulated in the Raw Materials Inventory account. Production cost reports prepared using first-in-first-out (FIFO) method assumes that the first units started in the production process are the last units completed and sold