24. The following costs are incurred in a typical manufacturing company. For each item, insert the type of cost in Column 1. Insert whether the cost is product cost or a period cost in Column 2. Use these abbreviations: Column 2: Column 1: 1= Product cost 2=Period cost DM= Direct material DL= Direct labor MO= Manufacturing overhead S= Selling A= Administrative Column 1 Column 2: Cost of significant raw materials that becomes part of the products Factory manager's office telephone cost Factory accountant's salary Rent on the sales office Insurance benefits for production-line supervisors Manufacturing vice president's salary Company president's salary - - Supplies used by the president's secretary Depreciation on factory equipment Cost of assembly line workers