Process cost systems are used to apply costs to similar products that are Mass-produced continuously. True False QUESTION 2 A process cost system is used when each finished unit is indistinguishable from another. True False QUESTION 3 Companies producing soft drinks, motion pictures, and computer chips would use process cost accounting. True False In a process cost system, costs are tracked by individual jobs. True False QUESTION 5 Job order costing and process costing track different manufacturing cost elements. True False QUESTION 6 Both job order costing and process costing account for direct materials, direct labor, and manufacturing overhead. True Fatse QUESTION 7 Costs flow through the accounts in the same basic way for both job order costing and process costing. True False In a process cost system, only one work-in-process account is used. True False QUESTION 9 In a process cost system, costs are summarized in a job cost sheet. True False QUESTION 10 In a process cost system, the unit cost is the total manufacturing costs for the penod divided by the equivalent units produced during the period True False