Question: Classify the following selected costs by completing the table below: (a) Variable or fixed cost, (b) Product or Period cost and (c) Direct or indirect

Classify the following selected costs by completing the table below: (a) Variable or fixed cost, (b) Product or Period cost and (c) Direct or indirect in relation to units of product. a b C 1. Gold and diamonds used in manufacturing of rings is P500,000.00 2. Total monthly salaries of jewelry makers for the month, P100,000.00 3. Salaries of administrative staff is P80,000.00 per month. 4. Insurance premium paid for the factory building is P25,000.00 a year. 5. The salary of the president of the company is P. 100,000.00 a month

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