TRUE OR FALSE

Conversion costs include the cost of purchasing and converting w o rd products 7) In a production cost report the number of units to count for units accounted for always bee n themes of 3) The cost amounts that are transferred out from one process to for the receiving process other proces becometered in costs 9) The weighted average method determines the cost of equivalent units of production by counting for beginning inventory costs separately from current period costs 10) The cost per equivalent unit for transferred in units is calculated by dividing total transferred in costs by the equivalent units of production for transferred in 10) 11) Cost amounts that are transferred out of one process become the transferred in cost for the next proces 12) The Raw Materials Inventory account is debited when direct materials are issued for production 13) When indirect materials are issued to production, the Manufacturing Overhead account is credited. 14) Under process costing depreciation on plant machinery is debited to the respective process's Work-in-Process Inventory 15) A predetermined overhead allocation rate is used to allocate direct materials cost to various processes or departments