when actual loss is more than estimated loss the difference between the two is consi 569029

State whether the following statements are true or false

1. Process costing is one aspect of operation costing.
2. Process costing is applied in garment industry.
3. Process costing is applied in chemical works.
4. Normal loss does not increase the cost per unit of usual production.
5. Abnormal loss is spread on good units of production.
6. Abnormal gain should reduce normal loss.
7. In process costing, ordinarily no distinction is made between direct and indirect materials.
8. The cost of abnormal process loss is not included in the cost of a process.
9. The method of costing applied in biscuit industry is process costing.
10. When actual loss is more than estimated loss, the difference between the two is considered as abnormal gain.