A manufacturing company prepays its insurance coverage for the year. The premium is $8,000 and is paid at the beginning of the year. Seventy percent of the premium applies to trips made to large customers and thirty percent applies to manufacturing operations. What amounts should be considered product and period costs respectively for the year of coverage? O a. Product: $8,000; Period: $0 b. Product: $2,400; Period: $5,600 c. Product: $0; Period: $8,000 O d. Product: $5,600; Period: $2,400