8. TF.01-47 Period costs include direct materials and direct labor. True False 9. TF.01-49 O True False Product costs are not expensed until the product is sold. 10. TF.01-60 Only the value of the inventory that is sold will appear on the income statemen O True False 11. MC.01-119 Which of the following is not a factory overhead cost? Osalaries of production supervisons O materials used directly in the manufacturing process of the product O property tax on factory building O insurance on factory equipment 12. MC.01-130 What is the purpose of the statement of cost of goods manufactured? 0 All of these choices are correct. to determine the ending materials inventory O to determine the amounts transferred to finished goods to determine the ending work in process inventory