Each of the following statements is true EXCEPT: n Select one: O a. cost distortions occur when a mismatch (incorrect association) occurs between the way indirect costs are incurred and the basis for their assignment to individual products b. traditional product costing systems seek to assign all manufacturing costs to products O C. ABC product costing systems seek to assign all manufacturing costs to products O d. traditional product costing systems are more refined than an ABC system All of the following are true of the Work-in-Process Control account EXCEPT that: Select one: O a. it tracks all direct material purchases 1 O b. it is an asset account 2: C. it tracks job costs from beginning through completion O d. the balance equals the sum of amounts from all in-process individual job-cost records 31 37 WindoWS