Ajax Company produces and sells a single product. In the most recent year, Ajax's accounting records show costs in the table below: Rent on manufacturing facility $136,000 Administrative office manager's salary 74,000 Wages of factory machine operators 54,000 Depreciation on manufacturing equipment 24,000 Insurance and taxes on selling and administrative offices 14,000 Direct materials purchased and used 84,000 product Ajax produced 2,000 unites and sold 1,500 of them. The selling price per unit is $300. a. Classify each cost in the table as either a product cost or a period cost, provide explanation Rent on man facility - product cost product cost Period cost ross Admin office salary period cost wages factory machine op- period cost period cost AM directly to prod b. How much was the total product cost for the units produced in the year? with the product item OF longer periods of not directly assround Things used C. How much was Ajax's cost of goods sold (ans: $223,500)? d. Prepare an income statement to calculate Ajax's net income for the year (ans: $138,500)