Loring Company incurred the following costs last year:   Costs Amounts Direct materials $211,000 Factory rent 21,000 Direct labor 120,000 Factory utilities 6,300 Supervision in the factory 55,000 Indirect labor in the factory 38,000 Depreciation on factory equipment 8,500 Sales commissions 33,000 Sales salaries 72,000 Advertising 35,000 Depreciation on the headquarters building 10,200 Salary of the corporate receptionist 27,000 Other administrative costs 183,000 Salary of the factory receptionist 29,000   What was the total product cost for last year?

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