True or False

1)The finished goods ledger is subsidiary to the general ledger cost of goods manufactured account.

2)The costs of completed jobs must follow the goods and are transferred from the work in process account to the finished goods account in the general ledger.

3)The sale of goods that have been manufactured for stock is recorded in the completed jobs journal.

4)A schedule of work in process lists all jobs that have been worked on during the according period.

5)A summary posting from the sales journal to the cost of goods sold account is recorded as a debit.

6)Production residues from manufacturing processes are called scrap.

7)The costs of reprocessing defective goods are known as rework costs.

8)When scrap is identified with a specific job, the proceeds of its sale should be credited to the manufacturing overhead control account.

9)When the costs of spoiled goods are absorbed into the costs of a specific job, the unit cost of the remaining finished units will be less than it would have been had there been no spoiled units.