Required: Using the table shown below, describe each of the costs associated with the new product decision in four ways. In terms of cost classifications for predicting cost behavior (column 2), indicate whether the cost is fixed or variable. With respect to cost classifications for manufacturers (column 3), if the item is a manufacturing cost, indicate whether it is direct materials, direct labor, or manufacturing overhead. If it is a nonmanufacturing cost, then select "none" as your answer. With respect to cost classifications for preparing financial statements (column 4), Indicate whether the item is a product cost or period cost. Finally, in terms of cost classifications for decision making (column 5). identify any items that are sunk costs or opportunity costs. If you identify an item as an opportunity cost, then select "none" as your answer in columns 2-4 Cost Classifications for Predicting Cost Behavior Preparing Financial Statements Name of the Cost Manufacturers Decision Making Rental revenue forgone, $30,000 per year Direct materials cost, $80 per unit Rental cost of warehouse, $500 per month Rental cost of equipment, $4,000 per month Direct labor cost, $80 per unit Depreciation of the annex space, $8,000 per year Advertising cost, $50,000 per year Supervisor's salary, $3,500 per month KPrey 9 of 1 Next 537 PM 9/3/2018 here to search