ch05 Student: 1. The major limitation of volume-based costing systems is the use of volume-based: A. Criteria. B. Standards. C. Rates. D. Variances. E. Restrictions. 2. Volume-based rates produce inaccurate product cost when: A. A large share of factory overhead cost is not volume-based. B. Firms produce a diverse mix of products. C. Large volumes of a product are manufactured. D. Both answer A and answer B are correct. E. None of the answers above is correct. 3. If the…
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