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Loring Company incurred the following costs last year: Costs Amounts Direct materials $217,000 Factory rent 25,000 Direct labor 121,000 Factory utilities 6,000 Supervision in the
Loring Company incurred the following costs last year: Costs Amounts Direct materials $217,000 Factory rent 25,000 Direct labor 121,000 Factory utilities 6,000 Supervision in the factory 53,000 Indirect labor in the factory 36,000 Depreciation on factory equipment 6,700 Sales commissions 31,000 Sales salaries 60,000 Advertising 36,000 Depreciation on the headquarters building 10,600 Salary of the corporate receptionist 31,000 Other administrative costs 184,000 Salary of the factory receptionist 27,000 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 Costs Product Cost: Direct Materials Product Cost: Direct Labor Product Cost: Manufacturing Overhead Direct materials $217,000 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 Salary of the corporate receptionist Other administrative costs Salary of the factory receptionist Accounting numeric field DODO Total Product Cost: Manufacturing Overhead Period Cost: Period Cost: Selling Expense Administrative Expense HITTIIN TIME Helene $ 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 $
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