Question 12 Problem 1-12 Product costs run thru the work-in-process inventory account. True False Question 13 Problem 1-13 Conversion costs are all the costs necessary to produce the product. True False Question 14 Problem 1-14 Every accounting transaction must affect at least two of the three balance sheet account categories. True False Question 15 Problem 1-15 Sunk costs are relevant for decision making. True False Question 16 Problem 2-1 The following inventory data relates to the Bell Tower Company: Cost of Goods Manufactured Conversion Costs Total Manufacturing Costs Work-in-process, Ending Finished Goods. Beginning Direct Material Fnding