Which of the following statements is false with respect to job-order costing and process costing? Multiple Choice Both systems assign materials, labor, and manufacturing overhead costs to products. Both systems compute unit product costs by department. Both systems use the same basic manufacturing accounts, including Manufacturing Overhead, Raw Materials, Work in Process, and Finished Goods. The flow of costs through the manufacturing accounts is basically the same in both systems. Which of the following journal entries properly records the use of $7,000 of raw materials in the Formulating Department? Multiple Choice Raw Materials Finished Goods-Formulating Debit Credit 7,000 7,000 Debit Credit Finished Goods-Formulating Raw Materials 7,000 7,000 Debit Credit Raw Materials 7,000 Work in Process-Formulating 7,000 Debit Credit Work in Process-Formulating 7,000 Raw Materials 7,000