DI Question 3 2 pts A product cost is expensed in the period in which it is manufactured O shown with current liabilities on the balance sheet shown with operating expenses on the income statement expensed in the period the product is sold Question 4 2 pts ndirect labor and indirect materials are classified as O factory overhead and product costs factory overhead and period costs operating costs and period costs operating costs and product costs Question 5 2 pts Direct labor and direct materials are product costs and expensed when the goods are sold product costs and expensed when incurred period costs and expensed when incurred period costs and expensed when the goods are sold D | Question 6 2 pts Given the following data: Cost of materials used $45,000 Direct labor costs 48,000 39,000 Factory overhead Work in process, beg. 28,000 Work in process, end.18,000 Finished goods, beg Finished goods, end 28,000 18,000 What is cost of goods sold