Answer the following statements true (T) or false (F)
1. Accounting firms, building contractors, and healthcare providers use process costing.
2. A job order costing system is used by companies that manufacture batches of unique products or provide specialized services.
3. A process costing system is used when a company produces identical units through a series of production steps.
4. A job order costing system would be appropriate for a manufacturing company that manufactures identical units through a series of uniform production steps.
5. A cost accounting system will assist a manager in determining how many and which products to produce.
1. FALSE
2. TRUE
3. TRUE
4. FALSE
5. TRUE
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