Question 2 (3 points) The Torchdown Company began operations several years ago. The company's product requires iron ore that cost $250 per metric ton. The company employs a production supervisor whose salary is $2,000 per month. Production line workers are paid $15 per hour to manufacture and assemble the product. The company rents the equipment needed to produce the product at a rental cost of $1,500 per month. The building is depreciated on a straight-line basis at $9,000 per year. The company spends $40,000 per year to market the product. Shipping costs for each unit are $20 per unit. The cost of electricity and other utilities used for product is $2 per unit. Indicate whether the following costs are (a) fixed or variable and (b) type of product cost (direct material, direct labor, or manufacturing overhead) or a period cost. Be sure to indicate whether a given product cost is direct material, direct labor, manufacturing overhead, or a period cost. The cost object is the unit of production. 1. Cost of iron ore 2. Salary of production supervisor 3. Cost of production line workers 4. Equipment rental cost 5. Depreciation on building 6. Marketing costs 7. Cost of shipping finished units to customers 8. Cost of shipping raw materials to the factory 9. Electrical costs