True False - 1. The number of units that could have been completed within a given accounting period is referred to as the equivalent units of production 2. A report prepared periodically for each processing department and which summarizes (a) the units for which the department is accountable and the disposition of those units and (b) the production costs incurred by the department and the allocation of those costs is called a cost of production report. 3. The accumulated costs transferred from preceding departments and the costs of direct materials, direct labor, and applied factory overhead incurred in each processing department are debited to the related work in process accounts 4. The most important use of the cost of production report is to schedule production 5. Direct labor and factory overhead are referred to as primary costs 6. Equivalent units for materials and conversion costs are usually determined separately. 7. A cost of production report will normally list costs in greater detail to help management isolate problems and opportunities 8. If a material is introduced halfway through processing and the beginning inventory is 40% complete, then the equivalent units for beginning inventory for this material for the current period will be zero (assuming fifo) 9. The first-in, first-out cost method is based on the assumption that the work in process at the beginning of the current period was started and completed during the current period 10. If the work in process at the beginning of the period is acer