1). costs are costs that are incurred for the production requirements of a certain period. T/F 2) budgetary slack can be avoided if lower and mid level managers are requested to support all of their spending requirements with specific operational plans. T/F 3) for an automotive repair shop the wages of mechanics would be classified as direct labor cost. T/F 4) when goods are sold their cost are transferred from work-in-process to finish Goods T/F