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QUESTION 23 Which of the following is NOT a characteristic of product costs? They may include overhead costs allocated using a predetermined rate. They include

QUESTION 23 Which of the following is NOT a characteristic of product costs?

They may include overhead costs allocated using a predetermined rate.

They include items such as raw materials, direct labor and manufacturing overhead costs.

These costs get recognized as expenses immediately as incurred.

The costs go into inventory until the product is sold and then the expense flows through Cost of Goods Sold.

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