True or False Questions:

4. When analysing mixed costs with the high-low method, begin by identifying the period with the lowest level of activity and the period with the highest level of activity.

28. Organization-sustaining activities are carried out regardless of how many units are made, how many batches are run, or how many different products are made.

29. On a per unit basis, a fixed cost varies inversely with the level of activity.

30. One of the distinct advantages of a budget is that it can help to uncover potential bottlenecks before they occur.

31. A job cost sheet is a form prepared for each separate job that records the materials, labour, and overhead costs charged to the job.