True or False 1) Managerial accounting information is designed primarily to meet the needs of external users. 2) Managerial accounting reports must be prepared for the business as a whole batch to the next batch. 3) Factory overhead must be applied the same for all products a company produces. 4) Applied Factory Overhead must always equal Actual Factory Overhead. 5) The purpose of Applied Factory Overhead is to estimate actual production costs for the accounting period. 6) Raw materials are always computed as being input into the process at the beginning of the operation. 7) There is no difference between the accounting for Job Costing Accounting and Process Costing Accounting. 8) Process Costing is used to track the production of specific items being manufactured. 9) Process costing does not have job order numbers because the product produced is virtually indistinguishable from one batch to the next. 10) If a product is shipped straight from Work-In-Process the product is never listed in Finished Goods Inventory