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Identify the Treatment of Each of the Following Costs Under

Question 145

Essay

Identify the treatment of each of the following costs under variable costing and absorption costing:
 Variable Costing  Absorption Costing  Product Cost  Period Cost  Product Cost Period Cost  1. Direct materials  2. Direct labor  3. Variable manufacturing overhead  4. Fixed manufacturing overhead  5. Variable selling  6. Fixed selling  7. Variable administrative  8. Fixed administrative \begin{array} { | l | l | l | l | l | } \hline & \text { Variable Costing } & &\text { Absorption Costing } \\\hline & \text { Product Cost } & \text { Period Cost } & \text { Product Cost } & \text {Period Cost } \\\hline \text { 1. Direct materials } & & & & \\\hline \text { 2. Direct labor } & & & & \\\hline \text { 3. Variable manufacturing overhead } & & & & \\\hline \text { 4. Fixed manufacturing overhead } & & & & \\\hline \text { 5. Variable selling } & & & & \\\hline \text { 6. Fixed selling } & & & & \\\hline \text { 7. Variable administrative } & & & & \\\hline \text { 8. Fixed administrative } & & & & \\\hline\end{array}

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