Rules of thumb rarely if ever lead to severe errors in the decision making process.a. trueb. false

False

Explanation:

Rule of thumb is generally an important factor in the decision-making process and they are made to mitigate the chances of errors. In decision making, there are various aspects which are involved and every time a decision is made circumstances are different. That is why the rule of thumb doesn't work always. So, the above statement is false, the rule of thumb can lead to severe errors in the decision-making process.

When calculating the cost of goods sold, you add all costs that are required to make the product in question. In this question, all of these options are included in the calculation.