Question 1. Job Costing captures cists for each process involved in product creation.
True
False
Question 2. Process Costing is applicable to homogenous goods that are produced in batches or continuous processes.
True
False
Question 3. Manufacturing Overhead is only allocated under the process costing method of accounting.
True
False
Question 4. Under applied overhead results when the actual overhead incurred is more than the amount assigned to production.
True
False
Question 5. The concept of equivalent units only applies to ABC costing.
True
False