Loring Company incurred the following costs last year:

Costs	Amounts
Direct materials	$210,000
Factory rent	20,000
Direct labor	123,000
Factory utilities	6,400
Supervision in the factory	54,000
Indirect labor in the factory	34,000
Depreciation on factory equipment	6,000
Sales commissions	26,000
Sales salaries	66,000
Advertising	34,000
Depreciation on the headquarters building	9,600
Salary of the corporate receptionist	35,000
Other administrative costs	186,000
Salary of the factory receptionist	24,000

	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?

Cost Classification

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	$210,000.00
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

Product Costs

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 .