Trak Corporation, which manufactures bicycles, incurred the following costs. Bicycle components $100,000 Advertising expense $45,000 Depreciation on factory 60,000 Property taxes on factory 14,000 Property taxes on retail store 7,500 Customer delivery expense 21,000 Labor costs of assembly-line workers 110,000 Sales commissions 35,000 Factory supplies used 13,000 Salaries paid to sales clerks 50,000 (b) Explain the basic difference in accounting for product costs and period costs. B I U T T Ix !!! E = T T OWord(s)