1 .Period costs are the O A. costs that are incurred and expensed during the same accounting period O B. product costs must be paid in the accounting period in which they are incurred O c. costs related to production of products the company purchases and sells O D. same as manufacturing overhead costs 2. Which of the following represents the combined sum of direct materials and direct labor? O A. period costs O B. conversion costs O c. prime costs O D. fixed costs 3. Which of the following is a prime cost and a conversion cost? O A. selling expenses O B. manufacturing overhead O c. direct materials O D. direct labor 4. Product costs are expensed O A. when the products are consumed or sold O B. when the products are transferred to Work-in-Process Inventory account O c. when the accounting period they are incurred in comes to an end O D. when the market value of products goes above the recorded value 5. The journal entry to record $1,500 of direct labor and $200 of indirect labor incurred will include debits) to the O A. Manufacturing Overhead account for $1,700 O B. Finished Goods Inventory account for $1,700 O C. Work-in-Process Inventory account for $1,500 and Manufacturing Overhead account for $200 D. Work-in-Process Inventory account for $1,500 and Finished Goods Inventory account for