Mark each statement as True or False. "Watch phrasing Freight costs incurred in shipping products to customers is properly referred to as a product rather than period cost of the selling company. Period costs include all selling and administrative costs, both variable and fixed. The salary of a manufacturing quality control inspector would typically be accounted for as manufacturing overhead. A retail merchandising company's cost of goods sold typically includes part of store utility costs. A manufacturing company's cost of goods sold includes only product costs. The basis used to apply manufacturing overhead in a job order cost system based on a predetermined overhead rate should be a measurable activity which correlates with or drives overhead costs. A. B. C. D. E. F. G. Managerial accounting is governed by rules issued by the AICPA H. If sales price and fixed costs remain constant while variable costs per unit increase, the number I. Unrecoverable past costs are always irrelevant in evaluating future business decision of units needed to be sold to reach the break-even point increases. alternatives