True or False
Enter a T or an F in the blank to indicate whether the
statement is true or false.
___ 1. A utility such as a water company would
typically use a process costing system.
___ 2. Under process costing it is important to
identify the materials, labor, and overhead costs asso-
ciated with a particular customer’s order just as under
job-order costing.
___ 3. In a process costing system, the production
report replaces the job cost sheet....