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TRUE OR FALSE 1. ABC can be applied to manufacturing overheads only; it is not applicable to selling and administrative overheads. 2. A major objective of activity-based management is to reduce or eliminate value- added activities. 3. Costs that are indirect to products are traceable to some activity. 4. Management should strive to reduce or eliminate non-value added activities from a production process. 5. A company should strive to reduce all non-value added activities to a minimum. 6. Direct materials are normally considered as unit-level costs. 7. Unit level costs occur once for each unit produced. 8. Machine setup is normally considered a batch-level cost. 9. Building depreciation is generally considered an organizational or facility cost. 10. Activity-based costing is appropriate for a company that manufactures a wide variety of products. 11. Activity-based costing is appropriate for a company that has high overhead costs that are not proportional to unit volumes of individual products. 12. There is a direct relationship between the complexity of a production process and overhead costs. 13. Activity-based costing is useful for allocating marketing and distribution costs. 14. The traditional approach to costing uses many different cost drivers. 15. In activity-based costing, cost drivers are what cause costs to be incurred. 16. The traditional approach to costing uses many different cost drivers. 17. Costs that are indirect to products are by definition traceable directly to products. 18. Costs that are indirect to products are traceable to some activity. 19. ABC is required for GAAP financial reporting 20. ABC will be most useful in estimating fixed costs