. 1. Burns Company incurred costs for the following items. Salary of chief financial officer Factory insurance Salary for salespeople Raw materials used in production easily traced to the product Insurance for headquarters building Production line workers wages Indicate whether each item should be categorized as a product or period cost. b. Indicate whether each item should be categorized as direct materials, direct labor, manufacturing overhead, selling, or general and administrative. a. 2. a. Indicate whether each of the firms listed in the following would use job costing or process costing. Oil refinery b. Builder of pools c. Cereal producer d. Legal firm