Mark is an engineer who has designed a telecommunications device. He is convinced that there is a big potential market for the device. Accordingly, he has decided to quit his present job and start a company to manufacture and market the device. The rent Mark pays on the administrative office space for his new company would be considered:

Answer: Product cost

Explanation:

Product cost could be defined as all the cost engaged when producing an object. They could range from administrative cost (rent, office supplies) to direct materials, labour and cost of items at the factory. The rent Mark pays falls under product cost because that's where everything that revolves around the product is done, from manufacturing to adminstrative duties, without the office space there's likely no prodution, when the products are manufactured the rent cost will be built up as part of the cost of the product.