Select each of the items with the best description of its purpose. Description 1. Costs that are incurred to manufacture a product and are assigned to inventory. Expenditures incurred in the process of converting raw materials to finished products, include direct labor and factory overhead. Expenditures for materials that are separately and readily traced through the manufacturing process to finished goods. 4. Costs that cannot be traced to a single cost object. 5. Efforts of employees who physically convert materials to finished product. 6. Costs that are expensed in the period incurred and are not assigned to inventory Manufacturing expenditures that cannot be separately or readily traced to finished goods. Expenditures directly associated with the manufacture of finished products include direct materials and direct labor Costs that can be traced to a single cost object Conversion Costs Direct Costs Direct Labor Direct Materials Items entory ed the Factory Overhead Indirect costs Period Costs Prime Costs Product Costs inventory to finished lucts