Read the following statements and note by each, whether the statement is true or false. Restate the false statements in such a way as to make them true statements.

• Billboard advertising space would be period cost, not a product cost.
• Beginning work in process, plus conversion costs, minus ending work in process, equals cost of goods manufactured.
• Conversion costs are always the same, no matter the level of output.
• Production costs generally consist of prime costs plus manufacturing overhead.
• Product costs attach can also be described as "inventoriable."
• The cost of air filters used in the paint shop of a manufacturing facility is a period cost because they are replaced monthly.
• Non-manufacturing costs for selling and general/administrative purposes are not part of factory overhead.
• Manufacturers may have three inventory categories: raw materials, finished goods, and cost of goods sold.
• The cost of carbon fiber incorporated into the frame of a bicycle built by TecTrack Bikes is a product cost.
• Prime costs include direct labor and manufacturing overhead.