True or False and explain please

1) When raw materials are purchased, they are recorded as an asset.

2) The absorption cost approach provides for the absorption of all manufacturing costs, fixed and variable, into units of product.

3) The following entry would be used to record depreciation on manufacturing equipment:

Manufacturing Overhead	XXX
Accumulated Depreciation		XXX

4) If a company uses a predetermined overhead rate, actual manufacturing overhead costs of a period will be recorded in the Manufacturing Overhead account and will be recorded on the job cost sheets.