TRUE/FALSE
1.The philosophy of customer satisfaction permeates the world-class firm.
2.Reports generated by the cost accounting system include performance reports and budget reports.
3.The cost accounting system authorizes the release of raw materials into production.
4.Batch processing creates a homogeneous product through a continuous series of standard procedures.
5.The bill of materials specifies the types and quantities of the raw materials and subassemblies used in producing a single unit of finished product.
6.A purchase requisition authorizes the storekeeper to release materials to individuals or work centers in the production process.
7.Cement and petrochemicals are produced by the batch manufacturing method.
8.The objective of the Economic Order Quantity model is to reduce total inventory costs by minimizing carrying costs and ordering costs.
9.The work-in-process file is the subsidiary ledger for the work-in-process control account.
10.Move tickets authorize the storekeeper to release materials to work centers.
