c. Would a consumer products division that sells products directly to consumers normally be considered a horizontal or vertical unit within a company? 3. What manufacturing cost term is used to describe the cost of materials that are an integral part of the manufactured end product? 4. Distinguish between prime costs and conversion costs. 5. What is the difference between a product cost and a period cost? 6. Name the three inventory accounts for a manufacturing business, and describe what each balance represents at the end of an accounting period. 7. In what order should the three inventories of a manufacturing business be presented on the balance sheet? 8. What are the three categories of manufacturing costs included in the cost of finished goods and the cost of work in process? 9. How do the manufacturing costs incurred during a period differ from the cost of goods manufactured for a period? 10. How does the "Cost of goods sold" section of the income statement differ between retail and manufacturing companies? 775 c. Would a consumer products division that sells products directly to consumers normally be considered a horizontal or vertical unit within a company? TUN