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Which of the following statements is true? I. The direct labor budget begins with the required production in units from the production budget. II. The

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Which of the following statements is true? I. The direct labor budget begins with the required production in units from the production budget. II. The direct labor budget shows the direct labor-hours required to satisfy the production budget. Multiple Choice Only statement 1 is true. Only statement II is true. Both statements are true. Neither statement is true

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