A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $3.360 and is paid at the beginning of the first year. Seventy percent of the premium applies to manufacturing operations and thirty percent applies to seling and administrative activities. What amounts should be considered product and period costs respectively for the first year of coverage? A) Product $336 Period $784. D) $1,120 $ 0 C) $ 0 $1,120 DY $784 $336 Multiple Choice Choice D O O Choice A Choice