Indicate Whether Each of the Following Statements Is True or False

Short Answer

Indicate whether each of the following statements is true or false.
A process costing system does not use the same inventory accounts as a job-order costing system.______
A process costing system accumulates product costs by jobs or batches of products.______
A company using a process costing system would keep a Work in Process account for each production department.______
In a process costing system,the cost of raw materials used is debited to Work in Process.______
A company using job-order costing must maintain a separate Work in Process account for each department.______