Problem 18-2A Classifying costs C2 The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. Advertising expense $28,750 Depreciation expense-Office equipment 7,250 Depreciation expense-Selling equipment 8,600 Depreciation expense-Factory equipment 49,325 Raw materials purchases (all direct materials) 925,000 Maintenance expense-Factory equipment 35,400 Factory utilities 33,000 Direct labor Indirect labor Office salaries expense Rent expense-Office space Rent expense-Selling space 675,480 159,475 63,000 22,000 26,100 Rent expense-Factory building Sales salaries expense 76,800 392,560 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.