Product costs include direct materials, direct labor, and selling costs.
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Q31: All manufacturing costs are classified as overhead.
Q32: Period costs are all costs that are
Q33: For external reporting purposes, costs must be
Q34: Any costs associated with storing, selling, and
Q35: Industries that provide services do not normally
Q37: Property taxes on a factory building would
Q38: Sales revenue equals the product cost per
Q39: Direct materials can be directly traced to
Q40: Product costs are carried in inventory until
Q41: All product costs other than direct materials
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