Answer the following exercise with TRUE or FALSE 25- In a process costing? system, costs can be controlled with the aid of a production cost report.

26- A company uses process costing and a perpetual inventory system. When finished products are? sold, Cost of Goods Sold is debited and Finished Goods Inventory is credited.

42- In a process costing system with multiple? departments, one? Work-in-Process Inventory account is maintained and the costs are transferred when a job is completed.

43-When indirect materials are used in? production, the Manufacturing Overhead account is credited. Process costing is used.