Problem 14-2B Classifying costs C2 The following year-end information is taken from the December 31 adjusted trial balance and other records of Best Bikes. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials) Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor Office salaries expense Rent expense-Office space Rent expense-Selling space Rent expense-Factory building. Sales salaries expense Table Summary: A table $ 20,250 8,440. 10,125 49,900 894,375 30,375 37,500 562,500 180,500 70,875 23,625 27,000 93,500 295,300 Page 569 Required Identify each cost as either a product cost or a period cost. If a product cost, classify it as direct materials, direct labor, or factory overhead. If a period cost, classify it as a selling expense or a general and administrative expense.