A car manufacturer incurs the following costs. Classify each cost as either a product or 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. Cost Classification Costs Rent on factory building Steering wheels used in cars Property taxes on office building Otice building Insurance used up Factory electricity Advertising Depreciation on factory machine Batteries for electric cars Steel for cars Leather for car seats tes