Answer Happy

Which of the following statements about costing systems is
FALSE?
When computing the cost per equivalent unit under the
weighted-average method of process costing, it is necessary to
consider the percentage completion of the physical units in the
beginning work in process inventory.
If a company’s product is composed of mass-produced homogeneous
units, then the company should use process costing rather than job
order costing.
Absorption costing is generally used for external financial
reporting.
Variable costing is generally used for internal financial
reporting.