All of the following are true regarding product costs excer a. product costs can be found in three accounts on the balance sheet product costs are found on the balance sheet until they are sold costs include sales and administrative expenses product costs consist of direct labor, direct materials, and factory overhead R.15-05A.BLANKSHEET.ALGO (Algorithmic g9eds manufactured and income statement for a manufacturing company The following information is avalable for Robstown Corporasion for 20Y8 January 1 December 31 349000 $435,600 Wark in process 630,200 593,000 Finished goods 606,400 570,000 December 31 Adverising expense Depreciation expense-office equipment 5 294,400 Direct labor Heat, light, and power-factory Indinect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-office building 42.480 55,700 668.400 22 240 76.250 659,000 183,700 17,400 32,200 32,300 Rent expense-factory Sales Sales salaries expense 3,008,000 416,000 15.200 10,000 Required statement of cost of goods manufactured. For those boxes in which you must enter subtracted or negative numbers usea minus sign Prepare the 20Y8 income statement. Enter all amounts as positive numbers Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text mount Descriptions Advertising expense