Final answer:
The salary of the president of a manufacturing company is classified as a Period Cost because it is a regular expense not directly tied to production levels.
The answer is option 2. Period Cost.
Step-by-step explanation:
The salary of the president of a manufacturing company would be classified as a Period Cost. This is because it is an expense that occurs on a regular basis, like salaries and administrative expenses, and is not directly tied to the production of the company's products.
As such, it does not vary with the level of production and is accounted for in the period in which it is incurred.
The correct option is 2) Period Cost.