Answer the following statements true (T) or false (F)
1) The managers of process operations focus on the series of repetitive processes, or steps, resulting in a noncustomized product or service.
2) Manufacturers that utilize process operations produce large quantities of identical products.
3) In a process costing system costs are measured upon completion of each job.
4) The cost object in a process costing system is the specific job.
5) Equivalent units of production refer to the number of units that could have been started and completed given the costs incurred during the period.
1. TRUE
2. TRUE
3. FALSE
4. FALSE
5. TRUE
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Indicate whether the statement is true or false
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