13. Coed Novelties manufactures key chains for college bookstores. During 2003, the company had the following costs: Direct materials used $ 31,000 Direct labor 18,000 Factory rent 12,000 Equipment deprecation - factory 2,000 Equipment depreciation - office 750 Marketing expense 2,500 Administrative expenses 40,000 35,000 units produced were in 2003. What is the product cost per unit? a. approximately $1.24 b. $1.80 c. approximately $3.04 d. $1.40 e. approximately $1.82