please answer all questions

Chapter 19: Questions: For the following questions, identify as either True or False, or write your letter answer for the Multiple Choice questions. All answers should be placed on the Answer sheet. 1. There are two basic types of cost accounting systems: job order costing and periodic costing. TRUE FALSE 2. A company that produces a large number of standardized units would normally use a job order costing system. TRUE FALSE 3. Job order production systems would be appropriate for companies that produce custom homes, specialized equipment, and special computer systems. TRUE FALSE 4. When a job involves producing more than one unit of a custom product, it is often called a job lot. TRUE FALSE 5. Job order costing is applicable to manufacturing firms only and not service firms. TRUE FALSE 6. The cost of all direct materials issued to production is debited to Work-in-Process Inventory. TRUE FALSE 7. When raw materials are used as indirect materials, their cost is debited to Factory or Manufacturing Overhead. TRUE FALSE 8. Direct labor costs are debited to Work-in-Process Inventory. TRUE FALSE 9. The predetermined overhead rate is prepared at the beginning of the budgeted period and is used to allocate direct materials to the job. TRUE FALSE 10. Under a job order costing system, individual jobs are always charged with actual overhead costs when they are transferred to finished goods. TRUE FALSE 11. There should be a "cause and effect" relationship between the overhead allocation base and the overhead costs. TRUE FALSE 12. Overapplied overhead is the amount by which actual overhead costs exceed the overhead applied to products during that period. TRUE FALSE 13. When actual overhead costs exceed the overhead applied, overhead is said to be underapplied. TRUE FALSE 14. If actual overhead incurred during a period exceeds applied overhead, the difference will be a credit balance in the Factory or Manufacturing Overhead account balance at the end of the period. TRUE FALSE 15. Job order costing systems normally use: A. Perpetual inventory systems B. Periodic inventory systems C. Weighted average inventory systems D. B and C 16. Features of a job order costing system include the following characteristics except: A. Customization B. Mass production C. Diversity of products produced D. Heterogeneity