TRUE/FALSE Instructions: Indicate whether each of the following statements is true or false by placing a check mark in the appropriate column. True False 1. A cost accounting system uses perpetual inventory procedures in accounting for manufacturing costs. ............. 2. A process cost system provides for a separate record of cost of each particular quantity of product that passes through the factory..... 3. A publishing company which produces a variety of different publication titles would normally use a process cost accounting system...... 4. The two principal types of cost systems for manufacturing operations are job order cost accounting and process cost accounting systems.......... 5. Materials are transferred from the storeroom to the factory in response to purchase requisitions. ........ 6. As a practical matter, unless the total amount of the underapplied or overapplied overhead balance is large, it is transferred to Cost of Goods Sold.... 7. If the factory overhead account has a debit balance, the factory overhead is said to be overapplied. ....... 8. The subsidiary ledger that contains the individual accounts for each kind of product is the finished goods ledger....... 9. A manufacturer that uses a job order cost system for one product must use that system for all products. ........ 10. The predetermined factory overhead rate is calculated by relating the estimated amount of factory overhead for the period to an activity base