1.Answer the following questions to demonstrate your knowledge of these units concepts ( All of the following are True / False questions)

A. Depreciation expense on factory equipment is part of factory overhead cost. True or False

B.If factory overhead applied exceeds the actual costs, overhead is said to be underapplied. True or False

C. A manufacturing business reports just two types of inventory on its balance sheet: work in process inventory and finished goods inventory. True or False

D. If the principal products of a manufacturing process are identical, a process cost system is more appropriate than a job order cost system. True or False

E. In a process costing system, each process will have a work in process inventory account.True or False

F. Custom-made goods would be accounted for using a process costing system. True or False

G. In a process costing system, a separate work in process inventory account is maintained for each customer's job. True or False