Answer false explanation inventoriable costs are

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Answer:FALSEExplanation:Inventoriable costs are reported as an asset when incurred and expensed onthe income statement when the product is sold.Diff: 2
Objective:5AACSB:Application of knowledge61) All manufacturing costs are period costs.Diff: 2
Objective:5AACSB:Analytical thinking62) All costs reported on the income statement of a service-sector company areinventoriable costs.Diff: 1
Objective:5AACSB:Analytical thinking
63) Period costs are included in the cost of goods sold.
Diff: 2Objective:5AACSB:Analytical thinking64) Indirect manufacturing costs are also referred to as manufacturing overhead costs orfactory overhead costs.
Diff: 1Objective:5AACSB:Analytical thinking65) Whippany manufacturing wants to estimate costs for each product they produce at itsTroy plant. The Troy plant produces three products at this plant, and runs two flexibleassembly lines. Each assembly line can produce all three products.Required:a.Classify each of the following costs as either direct or indirect for each product.b.Classify each of the following costs as either fixed or variable with respect to thenumber of units produced of each product.DirectIndirectFixedVariableAssembly line labor wages________________________ ________Plant manager's wages________________________ ________Depreciation on the assemblyline equipment________________________ ________Component parts for the product________________ ________________Wages of security personnel for thefactory________________________ ________Answer:DirectIndirectFixedVariableAssembly line labor wagesXXPlant manager's wagesXXDepreciation on the assembly line equipmentXXComponent parts for the productXXWages of security personnel for the factoryXXDiff: 2Objective:2, 4, 5AACSB:Application of knowledge
66) What are the three types of manufacturing cost?

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