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Calculator Cost Classification Loring Company incurred the following costs last year: Direct materials $216,000 Factory rent 24,000 Direct labour 120,000 Factory utilities 6,300 Supervision in the factory 50,000 Indirect labour in the factory 30,000 Depreciation on factory equipment 9,000 Sales commissions 31,000 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 following table format. Be sure to total the amounts in each column. Example: Direct materials, 5210 an entry, leave it blank. Product Cost Period Cos Direct Direct Manufacturing Selling Ad Costs Materials Labour Overhead Expense 1. Classify each of the costs using the following table format. Be sure to total the amounts in each column. Example: Direct materials, $216,000. If an amount box does not require an entry, leave it blank Costs Direct Materials Product Cost Direct Labour Manufacturing Overhead Period Cost Selling Administrative Expense Expense $216,000 Direct materials Factory rent Direct labour Factory utilities Supervision in the factory Indirect labour 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 Totals 2. What was the total product cost for last year? Previous Next Factory rent Direct labour Factory utilities Supervision in the factory Indirect labour 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 Totals 2. What was the total product cost for last year? s 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? Round your answer to the nearest cent. per unit