Classify each of the costs below as either a product cost or a period cost under (a) absorption costing and (b) variable costing. Cost Direct materials Direct labor Variable overhead Fixed overhead Amount Absorption Costing Variable Costing EA $ 3 per unit $ 6 per unit $ FA $ $ 2 per unit 270,000 per year 0.60 per unit 170,000 per year $ Variable selling and administrative expenses Fixed selling and administrative expenses