5.A report analyzing the dollar savings of purchasing new equipment to speed up the production process is a managerial accounting report.(T/F) 6. Cost of oil used to lubricate factory machinery and equipment is an example of a direct materials cost. 7. Product costs are not expensed until the product is sold. (T/F) 8. A cost object indicates how costs are related or identified. (T/F) 9. Conversion cost is the combination of direct materials cost and factory overhead cost. (T/F)