Which of these statements is true regarding product and period costs? 1. Factory maintenance is a product

Question:

Which of these statements is true regarding product and period costs?

1. Factory maintenance is a product cost and sales commission is a period cost.

2. Sales commission is a product cost and depreciation on factory equipment is a product cost.

3. Sales commission is a product cost and factory rent is a period cost.

4. Factory wages are a product cost and direct material is a period cost.

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