QUESTION 1 The following phrase describes process costing: Costs are accumulated by job. O True O False QUESTION 2 The following phrase describes job-order costing: Works best for homogeneous products. O True False QUESTION 3 The following phrase describes process costing: Unit Price = Process Costs/Output O True False QUESTION 4 The following phrase describes job-order costing: Works best with a wide variety of unique products. O True O False QUESTION 5 The following phrase describes process costing: Unit Cost = Total Job Costs/Output O True O False