Product versus period cost. The following are some of the costs incurred by a consulting firm. Salary paid to consultants                   Fee for attending training seminar Salary to office...

Salary paid to consultants                   Fee for attending training seminar

Salary to office administrator                         Corporate office rent

Cost of general-purpose software       Travel to client site

Required:

Classify each cost as a product cost (above the line for gross margin) or a period cost (below the line for gross margin).