Suppose that you have been given a summer job as an intern at Issac Aircams, a company that manufactures sophisticated spy cameras for remote-controlled military reconnalssance aircraft. The company, which is privately owned, has approached a bank for a loan to help finance its growth. The bank requires financial statements before approving the loan. Required: Classity each cost listed below as either a product cost or a period cost for the purpose of preparing financial statements for the bank. Product Cost / Period Cost Costs 1. Depreciation on salespersons' cars 2 Rent on equipment used in the factory 3 Lubricants used for machine maintenance 4 Salaries of personnel who work in the finished goods warehouse 5. Soap and paper towels used by factory workers at the end of a shin Factory supervisors salaries 7 Heat water, and power consumed in the factory & Materials used for boxing products for shipment overseas (Units are not normally boxed 9. Advertising costs 10. Workers compensation insurance for factory employees 11. Depreciation on chairs and tables in the factory lunchroom 12. The wages of the receptionist in the administrative offices 13 Cost of leasing the corporate jet used by the company's executives 14. The cost of renting rooms at a Flonda resort for the annual sales conference 15 The cost of packaging the company's product