a) The inventory accounts reported on the balance sheet of a manufacturing company will differ from those of a merchandising company.

True or False?

b) Manufacturing overhead consists of:

1. all manufacturing costs.
2. all manufacturing costs, except direct materials and direct labour.
3. indirect materials but not indirect labour.
4. indirect labour but not indirect materials.

c) Direct material and Direct Labouris a selling and administrative cost.

True or False