Indicate Whether Each of the Following Statements Is True or False

Essay

Indicate whether each of the following statements is true or false.
Activity-based costing systems are useful for many manufacturing companies but not for businesses that exist to provide services to their customers.______
Costs that are closely related to volume of production may be classified as unit-level even if they do not change with each individual unit of product.______
Activities related to producing groups of products are referred to as product-level activities.______
Batch-level costs are fixed with respect to the number of units produced in a single batch of a product.______
Machine setup costs are usually classified as batch-level costs.______