Period costs include all selling and administrative costs, both variable and fixed.

A.True

B. False

A retail merchandising company's cost of goods sold typically includes part of store utility costs.

A. True

B. False

A manufacturing company's cost of goods sold includes only product costs.

A. True

B. False

The basis used to apply manufacturing overhead in a job order cost system based on a predetermined overhead rate should be a measurable activity which correlates with or drives overhead costs.

A. True

B. False