Hello Teachers,please answer it all. its urgent and im about to be done. thank you in advance

1. Problem 1 True-False Instruction: In the space provided before the statement, write T if the statement is correct or F if the statement is incorrect. To calculate weighted-average equivalent production you do not need to know the number of units in the beginning inventory. 2. Equivalent production calculated using FIFO is higher than equivalent production calculated using weighted average. 3. Departmental overhead rates can be used by both job-order and process costing firms. 4. A multiproduct company cannot use standard costing. 5. Cost of Goods Sold and inventory accounts have debit balances. Variance accounts have only credit balances. _7. A process cost accounting system is best used by manufacturers of like units of product that are not distinguishable from each other during a continuous production process. 8. The process cost system is appropriate where few products are manufactured and each product is made to customers' specifications. 9. If a company has no inventories, the weighted-average approach and the FIFO approach will result in the same income. _10. Although weighted average and FIFO may give different values for inventory, the resulting income will always be the same. 6