Problem 18-28 Classifying costs C2 C3 The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Best Bikes. Chapter 18 Managerial Accounting Concepts and Principles 795 Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision 8.440 70,875 894,375 23,625 27,000 93,500 30,375 4942,625 295,300 20,250 8,440 Miscellaneous production costs Office salaries expense 35,400 121,500 6.060 37,500 Rent expense-Office space. Rent expense-Selling space Rent expense-Fectory building Maintenance expense-Factory equipment 562,500Sales Direct labor... indirect labor . 59,000 Required 1. Classify each cost as either a product or period cost. 2. Classify each product cost as either direct materials, direct labor, or factory overhead. 3. Classify each period cost as either selling expenses or general and administrative expenses