Classify the following costs as either product costs or period costs for the purpose of preparing the financial statements for a bank.

1. Depreciation on salespersons cars.

2. Rent on equipment used in the factory.

3. Lubricants used for machine maintenance.

4. Factory supervisors salaries.

5. Heat, water, and power consumed in the factory.

6. Materials used for boxing products for shipment overseas. (Units are not normally boxed.)

7. Advertising costs.

8. Workers compensation insurance for factory employees. (Period)

1. The wages of the receptionist in the administrative offices.

10. Cost of leasing the corporate jet used by the companys executives.

11. The cost of renting rooms at a Florida resort for the annual sales conference.

12. The cost of packaging the companys product.