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Classify which of the listed costs below into Product or Period costs in purpose of preparing financial statement for the Bank. Salaries of personnel who

Classify which of the listed costs below into Product or Period costs in purpose of preparing financial statement for the Bank.

  1. Salaries of personnel who work in the finished goods warehouse:
  2. Materials used for boxing products for shipment overseas:
  3. Workers compensation insurance for factory employees: product cost

May you please Answer the above question with explaining it with steps to understand when to classify object either to be product or period cost?

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