1.A process cost system and a job order cost system both use a predetermined overhead rate to apply estimated manufacturing overhead costs to work in process.

true or false

2. Under job-order costing, the actual direct material, actual direct labor, and estimated overhead costs are recorded on the job cost sheet.

true or false

3. In a job-order cost system, the inventory accounts generally are maintained on a perpetual basis.

true or false

4. Process costing is used for products produced in mass quantities through a continuous process that provides similar inputs to each unit produced.

true or false