Indirect labor and indirect materials are classified as factory overhead and product costs factory overhead and period costs operating costs and period costs operating costs and product costs

A. True

B. False

Question

Business

Foley

4 September, 13:59

Indirect labor and indirect materials are classified as factory overhead and product costs factory overhead and period costs operating costs and period costs operating costs and product costs

A. True

B. False

+3

Answers (1)

Know the Answer?

Chucky · Answer 1

True

Explanation:

Product costs are the costs directly incurred from the manufacturing process. The three basic categories of product costs they are;

1) direct material

2) direct labour

3) manufacturing (factory) overhead.

Manufacturing overhead cost also include the following;

a) indirect labour: Indirect labor is the labor of those who are not directly involved in the production of the products.

b) indirect material: Indirect materials are materials that are used in the production process but that are not directly traceable to the product.

Indirect labor and indirect materials are classified as factory overhead and product costs factory overhead and period costs operating costs and period costs operating costs and product costsA. TrueB. False

Indirect labor and indirect materials are classified as factory overhead and product costs factory overhead and period costs operating costs and period costs operating costs and product costs

A. True

B. False