Concepts and Terminology From the choices presented in parentheses, choose the appropriate term for completing each of the following sentences: Appropriate term for completing sentence Sentence a. An example of factory overhead is (electricity used to run assembly line, CEO salary). b. Direct materials costs combined with direct labor costs are called (prime, conversion) costs. c. Long-term plans are called (strategic, operational) plans d. Materials for use in production are called (supplies, materials inventory) e. The phase of the management process that uses process information to eliminate the source of problems in a process so that the process delivers the correct product in the correct quantities is called (directing, improving) I. The plant manager's salary would be considered (rect, indirect) to the product 9. The salaries of salespeople are normally considered a (period, product) cost