Cost Classification Loring Company incurred the following costs last year: Costs Amounts Direct materials $215,000 Factory rent 27,000 Direct labor 120,000 6,300 51,000 Factory utilities Supervision in the factory Indirect labor in the factory Depreciation on factory equipment Sales commissions 29,000 7,100 31,000 Sales salaries 63,000 Advertising 33,000 Depreciation on the headquarters building 10,400 Salary of the corporate receptionist 29,000 Other administrative costs 181,000 Salary of the factory receptionist 28,000 Required: 1. Classify each of the costs using the table provided. Be sure to total the amounts in each column. If an amount box does not require an entry, leave it blank. Direct materials is shown as an example. Loring Company Product Cost: Product Cost: Product Cost: Period Cost: Period Cost: Costs Direct Materials Direct Labor Manufacturing Overhead Selling Expense Administrative Expense Direct materials $215,000 Factory rent Direct labor Factory utilities Supervision in the factory Indirect labor in the factory Depreciation on factory equipment Sales commissions Sales salaries Advertising Depreciation on the headquarters building TIT Salary of the corporate receptionist Other administrative costs ---- Advertising Depreciation on the headquarters building Salary of the corporate receptionist Other administrative costs Salary of the factory receptionist Total 2. What was the total product cost for last year? The total product cost is $ 3. What was the total period cost for last year? The total period cost is 4. If 30,000 units were produced last year, what was the unit product cost? Round your answer to two decimal places. The total unit product cost is $