Direct material can be conveniently traced to units produced. true/false?

Indirect costs are always period costs. t/f?

The cost of goods that were finished and transferred out of work in process during the current period is called cost of goods manufactured. t/f?

Opportunity cost is the cost saved when choosing one option reduces the costs of the current choice. t/f?

In a double entry accounting system, an increase in liabilities is shown with an entry on the righthand side. t/f?

One of the primary responsibilities of the chief financial officer is to determine the cost per unit of product. t/f?