A review of accounting records for last year disclosed the following selected information:

Variable costs:

Direct materials used             68,500

Direct labor          177,500

Manufacturing overhead          166,500

Selling costs          106,800

Fixed costs:

Manufacturing overhead          279,500

Selling costs          119,400

Administrative costs          248,400

In addition, the company suffered a $26,100 uninsured factory fire loss during the year. What were the product costs and period costs for last year? Please explain.