Selling and administrative expenses incurred in generating revenues during the current period are often referred to asProduct costsPeriod costsManufacturing costsNone of the aboveManufacturing overhead consists of:all manufacturing costs other than direct materials and direct laborindirect materials but not indirect laborall manufacturing costs including direct materials and direct laborNone of the aboveWhen the level of activity increases total fixed costs will increase.TrueFalseThere are three integral parts to the accumulation of total product cost. They are:direct materials indirect materials and direct labordirect materials direct labor and factory overheaddirect labor indirect materials and factory overheadNone of the aboveManagerial accounting helps a company evaluate the performance of company decisionsTrueFalse
