Indicate whether the statement is true or false 1- In net present value analysis for a proposed capital investment, the expected future net cash flows are reduced to their present values. 2. In a process cost system, product costs are accumulated by processing department rather than by job. 3. If the costs for direct materials, direct labor, and factory overhead were $275,300, $42,600, and $41,000, respectively, for 14,000 equivalent units of production, the total conversion cost was $358,900 4. Cash flows from financing activities, as part of the statement of cash flows, include payments for dividends. 5. Variable costs are costs that remain constant in total dollar amount as the level of activity changes. 6. The cost of production report reports the cost charged to production and the costs allocated to finished goods and work in process. 7. Cash flows from investing activities, as part of the statement of cash flows, include payments for the acquisition of fixed assets. 8. Total fixed costs change as the level of activity changes. 9. Factors which reflect the ability of a business to pay its debts and earn a reasonable amount of 9. Factors which reflect the ability of a business to pay its debts and earn a reasonable amount of income are referred to as solvency and profitability. 10. The cost of production report summarizes (1) the units for which the department is accountable and the units to be assigned costs and (2) the costs charged to the department and the allocation of those costs