Loring Company incurred the following costs last year: Costs Amounts Direct materials 5216,000 Factory rent 20,000 Direct labor 124,000 Factory utilities 6,100 Supervision in the factory 52,000 Indirect labor in the factory 31,000 Depreciation on factory equipment 7,800 Sales commissions 31,000 62,000 Sales salaries 34,000 Advertising 9,600 Depreciation on the headquarters building Salary of the corporate receptionist 27,000 167,000 Other administrative costs 29,000 Salary of the factory receptionist Costs Product Cost: Direct Materials Product Cost: Direct Labor Product Cost: Manufacturing Overhead Period Cost: Selling Expense Period Cost: Administrative Ex Direct materials $216,000 Factory rent Direct labor Factory utilities Supervision in the factory Indirect labor in the factory Depreciation on factory equipment