When acturing products, direct labor and direct materials are classified as a) period costs and expensed when incurred 8) product costs and expensed when the goods are sold. c) period costs and expensed when the goods are sold. d) product costs and expensed when incurred

Acorporation a. can use different depreciation methods for tax and financial reporting purposes b. must use the straight - line depreciation method for tax purposes and double declining depreciation method financial reporting purposes c. must use different depreciation method for tax purposes, but strictly mandated depreciation methods for financial reporting purposes d. can use straight- line depreciation method for tax purposes and macrs depreciation method financial reporting purposes