The Three Categories of Product Costs Are Direct Materials, Direct

question 134

True/False

The three categories of product costs are direct materials, direct labor, and manufacturing overhead.

---

Definitions:

Iron Formation

A rock composed of millimeter- to centimeter-thick layers of iron-bearing minerals, especially iron oxide, commonly with quartz.

Gypsum Formation

A geological process leading to the creation of gypsum, a mineral used in building materials and fertilizers, through the evaporation of mineral-rich water.

Calcium Carbonate

A chemical compound (CaCO3) found in rocks as the minerals calcite and aragonite and is the main component of pearls, shells of marine organisms, snails, and eggs.

Seawater

The salty water that fills the oceans and seas, composed of a complex mixture of dissolved minerals and organic compounds.