The following year-end information is taken from the December 31 adjusted trial balance and other records of Best Bikes.

Required

Identify each cost as either a product cost or a period cost. If a product cost, classify it as direct materials, direct labor, or factory overhead. If a period cost, classify it as a selling expense or a general and administrative expense.

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$ 20,250 Direct labor.... Indirect labor ..... Advertising expense $562,500 .... . Depreciation expense-Office equipment . 8,440 180,500 Depreciation expense-Selling equipment 10,125 Office salaries expense. 70,875 Rent expense-Office space. Depreciation expense-Factory equipment ..... Raw materials purchases (all direct materials)... 894,375 Maintenance expense-Factory equipment 49,900 23,625 Rent expense-Selling space Rent expense-Factory building.... Sales salaries expense 27,000 .... . 30,375 93,500 Factory utilities... 37,500 295,300