Product and period costs For financial statements, costs are classified as either product costs or period costs. Fill in the following sentence about product and period costs. costs include commissions on sales, the salary of the chief executive officer, and the depreciation on the computers used in the Accounting Department. costs include the salary of the plant supervisor and the supplies used to clean the production facilities. costs are further classified as direct material cost, direct labor costs, and factor overhead costs. Surfside Company produces beach towels, A partial list of cost follows. Identify each cost as either a product cost or a period cost