Generic Company purchased land for P2,000,000 as a plant site. There was a small office building on the land with fair value of P700,000 which the entity will continue to use with some modification and renovation.

The entity decided to construct a factory building and incurred the following costs:

Materials and supplies	3,000,000
Excavation	100,000
Labor on construction	2,500,000
Cost of remodeling old office building	200,000
Imputed interest on corporations own money used during construction	120,000
Cash discounts on materials purchased	60,000
Supervision by management during construction	70,000
Compensation insurance premiums for workers	20,000
Payment of claim for injuries not covered by insurance	25,000
Clerical and other expenses during construction	30,000
Paving of streets and sidewalks	40,000
Plans and specifications	140,000
Legal cost of conveying land	10,000
Legal cost of injury claim	15,000

1. What is the cost of land?

2. What is the cost of office building?

3. What is the cost of factory building?