PARTE MULTIPLE CHOICE/TRUE AND FALSE GUESSTIONS (30 POINTS 1. TIE Factory Overhead is also known as Factory burde 2. TF Activity based costing can only be used in manufacturing environme T.F. When overhead balance c h e has been under-applied 4.T.F. When companies can solate various factors that drive over pe methods to a arious factors that drive overhead costs, then they can use nother out to various activities of departe ST .F. There are only two ways thato d or under applied overhead can be disposedan the end of the accounting period 6. T. F. Companies seldom use more than two basi wystems of costing There is no difference between the termi co ed in process conting and border costing 8. T.F. The primary difference between Job Order Costing and Process Costing is the use of Equivalent Units of Production 9.T.F. The production Report contains at least Four Sections 10.T.F. In calculating the unit cost in a department subsequent to the first department, the first department's costs are hardly taken into consideration 11. T. F. When material direct labor and overhead costs are added uniformly in a process costing system. It is okay to use only one equivalent production figure 12. T, F. When material direct labor and overhead costs are not added to production uniformly, it becomes necessary to use separate equivalent units of production in calculating unit costs in departments 13. T. F. In determining the cost of the ending work in process, the cost accountant must consider the stage of completion or percentage of completion and the point at which materials are added in order to make the proper allocation of costs 14. T. F. Cost of normal losses in production increase the cost of good output because the loss is not ignored in computing equivalent units of production 15. T, F. If materials added to the process in the department increases the number of units being manufactured, the unit cost from the prior department need not be adjusted