The following year-end information is taken from the December 31 adjusted trial balance and other records of Best Bikes. Advertising expense Depreciation expense-Office equipment $ 20,250 8,440 Depreciation expense-Selling equipment 10,125 Depreciation expense-Factory equipment Raw materials purchases (all direct 49,900 894,375 materials) Maintenance expense-Factory equipment 30,375 Factory utilities 37,500 Direct labor 562,500 Indirect labor 180,500 Office salaries expense 70,875 Rent expense-Office space 23,625 Rent expense-Selling space 27,000 Rent expense-Factory building Sales salaries expense Table Summary: A table 93,500 295,300 Page 569 Required Identify each cost as either a product cost or a period cost. If a product cost, classify it as direct materials, direct labor, or factory overhead. If a period cost, classify it as a selling expense or a general and administrative expense.