Indicate Whether Each of the Following Statements About Process Costing

Short Answer

Indicate whether each of the following statements about process costing systems is true or false.
The use of a predetermined overhead rate is not required with process costing because the method calculates an average unit cost.______
When manufacturing overhead is applied to units of product,total assets do not change.______
For Morris Company,the cost per equivalent unit was $3.58.If the ending work in process was 8,000 units 85% complete,the total cost assigned to these units would be $28,640.______
A company with three processing departments generally would calculate a cost per equivalent unit for each department.______
With a process costing system,a company will not have to deal with underapplied or overapplied overhead.______