true or false

2 3 True of False - Choose the correct answer true or false) from the dropdown list in green box. 4 (1 mark for each correct answer) 5 5 1. The weighted average method of process costing can only be used if materials are added at the beginning of the production process 7 8 in process casting costs are accumulated in processing departments, rather than by job 9 103. Most organizations that use ABC have two casting systems the costing system which is used to prepare external financial reports, 11 and the ABC system, which is used for internal decision making and for managing activities 12 13 4 When combining activities in an city-based cong system, actes should be grouped together at the same level for example, batch-levelactites should not be combined with levels 15 15 Selectivities wise of the total volume of production and are performed each time a unit is produced 17 116. The first stage location in based on the process by which overhead costs are assigned to products before they are assigned to customers 2017. In the region of financial statements using able casting, tad manufacturing overhead is treated as a period cost 21 22 ng is seselerred to as direct costing or marginal song 24 9 Under variable in the impact of bonecting and non-manufacturing cost is emphasized because the total amount of such 25 for the end pears in the comment 25 37 10. The products under on tingin no wlement of manufacturing overhead cost 75 II0 I 01111 1 3 >> 11. The following journal story would be made in a process Costre system when its that have been completed with respect to the work done in Processing 30 Departure transferred from Processing Department to Processing Department 33 XX Waren processen XOXOX 15 12. The formereny would be made in processing system whenunits that have been completed with respect to the work done in the final Processine departmentirementered to the trees and marelease Instructions SECTION 1 SECTION 2 SECTION 3 SECTION 4 SECTION 5 New lenovo A19 30 Department Z are transferred from Processing Department Z to Processing Department Y: 31 32 Work in process, department Y 33 XXX Work in process, department Z 34 35 12. The following journal entry would be made in a process costing system when units that have been completed with respect to the work done in the final 36 processing department are transferred to the finished goods warehouse: 37 38 Finished good xxx 39 Work in process XOOX 40 41 13. In process costing, the same equivalent units figure is used for both materials and conversion costs. 42 43 When assigning costs to partially completed units in the ending work-in-process inventory, it is NOT necessary to consider the percentage 44 of completion of the units under the weighted average method. 45 46 14.Unit-level production activities are performed each time a unit is made. 47 48 15. Organization-sustaining activities are carried out regardless of how many units are made, how many batches are run, or how 49 many different products are made. 50 51 16. Activity-based costing uses a number of activity cost pools, each of which is allocated to products on the basis of direct labour hours. 52 53 17. The first stage allocation in activity-based costing is the process by which overhead costs are assigned to products before they are assigned to customers 54 55 18. In the preparation of financial statements using variable costing, fixed manufacturing overhead is treated as a period cost. 56 57 19. Variable costing is sometimes referred to as direct costing or marginal costing. 58 59 20. Under variable costing, the unit product cost contains some fixed manufacturing overhead cost. New SECTION 5 SECTION 4 SECTION 3 SECTION 2 SECTION 1 K( Instructions