3-Prime costs and manufacturing overhead costs are accumulated in a

cost of goods sold account

work in process account

cost of goods manufactured account

finished goods account

False

4-Prime cost is the combination of

direct materials, direct labour, and manufacturing overhead

direct labour and manufacturing overhead

direct materials and manufacturing overhead

direct materials and direct labour

5-When materials are added at the end of a process, units are 100% complete in terms of direct materials and conversion costs for that particular process throughout the process.

True

False