Product costs consist of direct labor,direct materials,and overhead.

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Quizplus · Accepted Answer

This is because direct labor, direct materials and overhead are the three main components of product costs. Direct labor refers to the wages and benefits paid to workers who are directly involved in manufacturing a product, while direct materials are the costs of the materials used to make the product. Overhead refers to indirect costs such as rent, utilities, and taxes that are necessary for production but cannot be directly traced to a specific product. Together, these three elements represent the total cost of producing a product.

Product Costs Consist of Direct Labor,direct Materials,and Overhead