Which of the following statements is correct about the high-low method? Multiple Choice Generally, managers use the high-low method because it has no drawbacks or limitations. The high-low method is effective for periods in which activity is particularly high or low. The high-low method is complicated to apply. Generally, managers can obtain more accurate information from other methods of cost analysis that use a larger number of data points. Which of the following is a characteristic of process costing? Multiple Choice Costs are traced to products rather than to production processes. It can only be used for manufacturing firms and not used for service firms. It is employed by companies that use standardized processes. Products are unique