Requirement1 1. Identify the following as either a product cost or a period cost, and 2. Select the appropriate product cost category, or select expense. Cost Classification Product Product Product Product Period Period Category Direct materials (OM) Expense Expense Direct labor(DL) Expense Description Coconut flakes used in the cookies. Depreciation on the ovens. Wages for the bakery security guard. Salaries of the bakers who make the cookies. Insurance on the computers used in the accounting office. Electricity for the bakery. Heating for the corporate headquarters. Freight for shipping the cookies to customers. Salary of the baking supervisor CEO Salary Wages for the bakery janitor Wages for the corporate headquarters janitor Flour for the cookies Packaging Materials for the cookies Period Period