Problem 1. Classify each of the following costs of Bug Company in two ways: (a) as variable (V) fixed costs (F): (b) as inventoriable costs (1) or period costs (P): Example: Direct labor V 1. Salary of company controller 2. Fire insurance on direct materials 3. Property taxes on finished goods held for sale 4. Direct materials used 5. Factory rent 6. Sales Commissions 7. Overtime premium of machine operators 8. Straight-line depreciation of Factory equipment 9. Straight-line depreciation of trucks used for delivery of sales to customers 10. Salary of factory supervisor