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14. Period (nonmanufacturing) costs are classified into two categories: selling and administrative. (T/F) 15. Factory...

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Accounting

14. Period (nonmanufacturing) costs are classified into two categories: selling and administrative. (T/F) 15. Factory overhead includes all manufacturing costs except direct materials and direct labor. (T/F) 16. Period costs are operating costs that are expensed in the period in which the goods are sold. (T/F) 17. Factory overhead is an example of a product cost. (T/F)

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