True/false
1) Activity-based costing information is recorded on a job sheet each month which is later posted to the general ledger at the end of the year.
________ 2. A factory production manager’s salary is considered an organizational sustaining activity cost.
________ 3. First stage allocation is the process by which overhead costs are assigned to activity cost pools in an activity-based costing system.
________ 4. Interviewing operating-level managers is a poor way of determining cost pools in first-stage allocation.
________ 5. Production accountants applying activity rates to cost pools in activity-based costing will be able to calculate standard costs.
________ 6. The process of budgeting often takes place during the process of evaluation.
________ 7. Preparation of the cash budget often precedes the preparation of the sales budget.
________ 8. The self-imposed budget is the same as a top-down budget.
________ 9. The Chief Executive Officer of a corporation usually has final authority in approving the master budget.
________10. In any department of a company, it is the Chief Fiscal Officer who has the initial responsibility for the departmental budget.