Problem 14-2A Classifying costs LO C2, C3 The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used (indirect materials) Factory utilities Direct labor Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases (direct) Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense 30,250 7,500 11,500 34, 150 108,060 10,850 39,900 741,000 57,000 10,225 70,700 950,000 22,800 30,900 81,200 38,100 4,462,500 404,560 Required: Classify each of the costs as either a product or period cost. Then, classify each of the product costs as either direct materials, direct labor, or factory overhead and each of the period costs as either selling or general and administrative expenses. (Leave no cell blank.) Costs Type of Product Cost Product Cost or Period Cost Period cost Type of Period Coot 1 Advertising expen Belling opens Maintenance expense-Factory equipment Sales Sales salaries expense 81,200 38,100 4,462,500 464,560 Required: Classify each of the costs as either a product or period cost Then, classify each of the product costs as either direct materials, direct labor, or factory overhead and each of the period costs as either selling or general and administrative expenses. (Leave no cell blank.) Type of Product Com Type of Period Cost seling expenses General and Administrative expenses Selling expenses Costs 1 Advertising expense 2 Depreciation expense-Office equipment 3. Depreciation expense-Selling equipment 4 Depreciation expenseFactory equipment 5. Factory supervision 6. Factory supplies used indirect matersals) 7. Factory Utilities Direct labor 9 Indirect labor 10 Miscellaneous production costs 11. Office salaries expense 12 Raw materials purchases direct) 13. Rent expense Ottice space 14 Rent expense Selling space 16. Rent experFactory building 18 Maintenance expense-Factory equipment Product Cost of Period Cost Period cost Period cost Period cost Productos Product cost Product cost Product cost Product cost Product cost Product cost Period cost Factory Overhead Factory Overhead Factory Overhead Factory Overhead Direct Labor Factory Overhead Factory Overhead (General and Administrative expenses Duct Materials General and Advent Saling expenses Factory Overhead Factory Overhead NA - Notis product cost Selling expenses 1. Sass expense