Classify each of the following costs as either a product cost or a period cost for a manufacturer. 1. Direct materials used in making goods. Product cost 2. Factory utilities. Product cost 3. Office supplies used. Period cost 4. Depreciation on office equipment. Period cost 5. Indirect labor used in making goods. Product cost 6. Office building insurance used up. Product cost 7. Tax accountant salary. Period cost 8. Factory insurance. Product cost