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What are the three major elements of product costs in a manufacturing company? Explain the difference between a product cost and a period cost. Distinguish

  1. What are the three major elements of product costs in a manufacturing company?
  2. Explain the difference between a product cost and a period cost.
  3. Distinguish between (a) a variable cost, (b) a fixed costs, and (c) a mixed cost AND provide an example of a product/service that contains each of the three different types of costs.

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