Of the expenses listed in table one determined what should be treated as product cost in what should be treated as period cost for management decision making

Financial Data below. Table 1: Selected Financial Data (actual cost and revenue data for May 2020) Cost Category Behavior May 2020 Sales $766,667 Expenses: Raw Materials Variable $327,934 Bakery labor Mixed $158,767 Administration Salaries Fixed $41,367 Supplies Variable $3,833 Freight & Shipping-In Variable $4,907 Freight & Shipping-Out variable $64,707 Utilities - Electricity Variable $9,813 Utilities - Gas (ovens) Variable $3,067 Water Variable $920 Repairs & Maintenance Fixed $4,293 Rent expense Fixed $19,167 Telephone & Internet Fixed $2,300 Co-owners salary Fixed $25,300 Brokers commissions Variable $30.667 Total Expenses $697.042 Operating Profit $69,625 ncome Tax $22.280 Net operating income $47,345 Unit volume 64,500 Average Operating Assets $5.500,000 Minimum Rate of Return 8 00%