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Exercise 1-8 Product Costs and Period Costs; Variable and FixedCosts [LO1-3, LO1-4]Kubin Company’srelevant range of production is 30,000 to 35,000 units. When itproduces and sells 32,500 units, its average costs per unit are asfollows: Average Cost per UnitDirectmaterials$9.00Directlabor$6.00Variablemanufacturing overhead$3.50Fixedmanufacturing overhead$7.00Fixed sellingexpense$5.50Fixedadministrative expense$4.50Salescommissions$3.00Variableadministrative expense$2.50Required:1. For financialaccounting purposes, what is the total amount of product costsincurred to make 32,500 units?2. For financialaccounting purposes, what is the total amount of period costsincurred to sell 32,500 units?3. For financialaccounting purposes, what is the total amount of product costsincurred to make 35,000 units?4. For financialaccounting purposes, what is the total amount of period costsincurred to sell 30,000 units?(For allrequirements, do not round intermediate calculations.)Answer is complete butnot entirely correct.1.Total amountof product costs$828,750selected answer correct2.Total amountof period costs incurred$503,750selected answer correct3.Total amountof product costs4.Total amount of period costs