Which of the following costs are conversion costs? a. direct labor cost and factory overhead cost b. direct materials cost and direct labor cost c. factory overhead cost d. direct materials cost and factory overhead cost Jensen Company reports the following: irect materials used irect labor incurred actory overhead incurred perating expenses 400,000 175 . Jensen Company's product costs are a. $995,000 b. $920,000 c. $825,000 d. $770,000 term is used to describe the process of developing the organization's objectives and translating those into courses of action? a. supervising b. planning c. improving d. decision making