TRUE FALSE-Unit 4.1 Indicate whether each of the following is true (T) or false (F) in the space provided. 1. Manufacturing overhead costs are always reported as expenses on the income statement 44 Student Study Guide for Managerial Accounting, 2nd Edition 2. 3. 4. 5. All direct costs can be easily traced to a final product. Manufacturing overhead consists of both direct and indirect costs. Period costs are expensed as incurred. Knife blades used to remove excess plastic wrapping from packaged products are 6. 7. 8. considered to be direct materials. Costs to deliver products to customers are considered to be product costs. Indirect materials are part of factory burden. The cost of a guard who enforces factory security is an indirect labor cost