Problem 1 - The following is a list of costs that were incurred in the production and sale of airplanes; a. Cost of electronic guidance system installed in the airplane cockpit b. Special advertising campaign in Aviation World magazine c. Salary of chief financial officer d. Depreciation on factory equipment e. Hourly wages of employees that assemble the airplanes f. Salary of the factory general manager g. Rent for a warehouse to store raw materials h. Fees paid to lawn service for office grounds upkeep i. Oil used to lubricate factory equipment j. Cost of electrical wiring throughout the airplane Required: Classify each cost as either a product cost or period cost. If a cost is a product cost indicate whether it is a direct material cost, direct labor cost or factory overhead cost.