So here's my question. I hope you can help answer this correctly and not make a copy paste from Google for the sake of answering my question. Please read the case below.

Case:

Many new cost terms have been introduced and learned. Take some time to properly classify the following costs in this case. Miranda Company manufactures furniture, including tables. Selected costs are given below:

1. The tables are made of wood that costs P5,000 per table.

2. The tables are assembled by workers at labor cost of P1,000 per tables.

3. Workers assembling the tables are supervised by a factory foreman who is paid P180,000 per year.

4. Electrical costs are P100 per machine hour. Four machine hours are required to produce a table.

5. The depreciation on the machines used to make the tables totals P50,000 per year. The machines have no resale value and do not wear out through use.

6. The salary of the company president is P600,000 per year.

7. The company spends P500,000 per year to advertise its products.

8. Salespersons are paid a commission of P500 for each table sold.

9. Instead of producing the tables, the company could rent its factory space for P1,000,000 per year.

10. There are 3 janitors hired from a manpower agency for which the company pays P33,000 per month.

Required:

Classify these cost items (1 to 10) accordingly. Carefully study the classification of each cost whether it is fixed, variable or semi-variable cost, and whether it is a product or a period cost. Use the table given below.

Fixed Variable Semi- Product Cost Period Cost item cost cost Variable Direct Direct Factory cost cost materials labor overhead 2 4 CO CO 10