Indicate whether each of the following statements about product costing systems is true or false.
The type of product made by a manufacturer affects the type of accounting system that it should use to calculate the costs of its products.______
Hybrid costing systems are used by service businesses,but not manufacturing companies.______
A company that manufactures high-volume industrial chemicals such as sulfuric acid would use a job-order costing system.______
An automobile repair shop would use a job-order costing system to assign costs to individual jobs.______
Only process costing systems require averaging in assigning costs to products.______

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The Answer of Indicate whether each of the following statements about product costing systems is true or false.
The type of product made by a manufacturer affects the type of accounting system that it should use to calculate the costs of its products.______
Hybrid costing systems are used by service businesses,but not manufacturing companies.______
A company that manufactures high-volume industrial chemicals such as sulfuric acid would use a job-order costing system.______
An automobile repair shop would use a job-order costing system to assign costs to individual jobs.______
Only process costing systems require averaging in assigning costs to products.______

Indicate Whether Each of the Following Statements About Product Costing