a. Distinguish among product costs, period costs, and expenses. b. Describe the role of costs in published financial statements c. A hotel pays the phone company $200 per month plus $.15 for each call made. During January 7,000 calls were made. In February 8,000 calls were made. Required: i. Calculate the hotels phone bills for January and February. ii. Calculate the cost per phone call in January and in February. iii. Separate the January phone bill into its fixed and variable components.