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A. Factory overhead is an example of a product cost. True False B. The...

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Accounting

A. Factory overhead is an example of a product cost. True False

B. The costs of materials and labor that do not enter directly into the finished product are classified as factory overhead. True False

C. Period costs include direct materials and direct labor. True False

D. Product costs are not expensed until the product is sold. True False

E. Only the value of the inventory that is sold will appear on the income statement. True False

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