Which of the following statements is False?

- Process costing systems accumulate costs by customer order rather than by department.

- Job order costing and process costing systems both provide a mechanism for computing unit product costs.

- Process costing is used when a company produces a continuous flow of units that are indistinguishable from one another.

- Job-order costing and process costing systems both use the same basic manufacturing accounts, including Manufacturing Overhead, Raw Materials, Work in Process and Finished Goods.

The smaller the contribution margin ratio, the Less amount of sales required to cover a given amount of fixed expenses?

T or F