Chapter 18: Managerial Accounting Concepts and Principles 27. Insurance expense incurred on a factory building would be treated as a a. direct cost b. period cost c. product cost d. selling cost Jensen Company reports the following: Direct materials used Direct labor incurred $345,000 250,000 400,000 175,000 Factory overhead incurred Operating expenses 28. Jensen Company's period costs are $345,000 b. $250,000 $400,000 d. $175,000 a. c. 29. Factory overhead includes factory rent and direct labor a. b. direct materials and direct labor c. indirect materials and direct materials d. indirect labor and indirect materials All of the following are examples of indirect labor except a. maintenance personnel 30. b. janitorial personnel c. machine operators d. plant managers 31. Which of the following accounts will be found on the income statement? Inventory a. b. Work in Process c. Finished Goods d. Cost of Goods Sold