Question: True or False 1. Activity-based costing (ABC) eliminates arbitrary assignments of overhead. 2. Large inventories of raw materials must be maintained in a just-in-time system.

True or False

1. Activity-based costing (ABC) eliminates arbitrary assignments of overhead.

2. Large inventories of raw materials must be maintained in a just-in-time system.

3. Production cost reports provide a basis for evaluating the productivity of a department.

4. Equivalent units of production is the sum of units completed and transferred out plus equivalent units of beginning work in process.

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