true / false

Activity-based costing can be applied to other tasks and processes in the organization under activity-based management ( ) Job costing method is better suited for milk production in the dairy factory ( Process costing is better suited for small mechanic shop in Abu Dhabi (Cost of goods sold usually used for manufacturing companies, and cost of sales is the common term for retail companies ( ) Accounts payable represents a credit to company and debit to its suppliers, while the accounts receivable represents money the company owes to its customers (i.e., debit). ( ) Salary of the CEO is considered a fixed cost, while wages of workers are considered variable cost ( ) In the activity-based costing calculations, we need to convert partially completed units in ending work-in-process inventory into the equivalent completed units (called equivalent units)