Loring Company incurred the following costs last year: Costs Amounts Direct materials $216,000 Factory rent 24,000 Direct labor 120,000 Factory utilities 6,300 Supervision in the factory 50,000 Indirect labor in the factory 30,000 Depreciation on factory equipment 9,000 Sales commissions 27,000 Sales salaries 65,000 Advertising 37,000 Depreciation on the headquarters building 10,000 Salary of the corporate receptionist 30,000 Other administrative costs 175,000 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. 2. What was the total product cost for last year? 3. What was the total period cost for last year? 4. If 30,000 units were produced last year, what was the unit product cost? 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 1 Costs Product Cost: Direct Materials Product Cost: Direct Labor Product Cost: Manufacturing Overhead Period Cost: Selling Expense Period Cost: Administrative Expense 2 Direct materials $216,000.00 3 Factory rent 4 Direct labor 5 Factory utilities 6 Supervision in the factory 7 Indirect labor in the factory 8 Depreciation on factory equipment 9 Sales commissions 10 Sales salaries 11 Advertising 12 Depreciation on the headquarters building 13 Salary of the corporate receptionist 14 Other administrative costs 15 Salary of the factory receptionist 16 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