7. In a process costing system, production cost report provides data on how much is transferred out of each work-in-process and on how much is remaining in each work-inprocess. a) True b) False 8. Under job order costing, each job carries its job-cost data, but, at a factory level, the jobcost data for all the jobs wouldn't be maintained on controlling accounts. a) True b) False 9. At a manufacturing plant, all the costs other than direct-materials cost and direct-labor cost are inventorialized as work-in-process. a) True b) False 10. In process costing, the manufacturing costs of the units that are transferred from one process to the next process follow the physical flow of the units transferred. a) True b) False 11. At the end of period, if total factory overhead account has a relatively small balance, the relatively small overhead balance can be ignored not being accounted for. a) True b) False 12. For the same company, their period costs and product costs can be divided into variable costs and fixed costs. a) True b) False 13. When costs are classified by its behavior, the fundamental elements of costs are variable costs, fixed costs, and mixed costs. a) True b) False