Determine which True or False for the following statement Statements Answer (True or False) 1- The allocation of fixed production overheads to the costs of ??? conversion is based on the normal capacity of the production facilities 2- Unallocated overheads are recognised as part of the units produced ??? in the period in which they are incurred 3- Agriculture inventories comprising agricultural produce that an entity has harvested from its biological assets are measured on initial recognition at their fair value less costs to sell at the point of harvest 4- Normal amounts of wasted materials, labour or other production ??? costs excluded from the cost of inventories 222 2 2