In a manufacturing organization, the production budget is prepared immediately after the sales budget

Indicate whether the statement is true or false

T

Business

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Preventive maintenance instructions for a piece of equipment:

a. identify basic inspection, cleaning and lubrication procedures b. provide instruction on how to repair the equipment c. include information on how to diagnose a problem d. list those pieces of equipment that are on the PM list

Business

Traditional costing systems employ multiple allocation rates for manufacturing overhead costs, but an activity-based costing system uses only one rate for allocating manufacturing overhead costs

Indicate whether the statement is true or false

Business