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On a manufacturing companys income statement, which of the following is true? 1.Direct labor is separately listed as an expense. 2.Direct materials is separately listed

On a manufacturing companys income statement, which of the following is true?

1.Direct labor is separately listed as an expense. 2.Direct materials is separately listed as an expense. Only statement II is true. Only statement I is true. Both statements I and II are true. Neither statement is true.

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