g Enabled: Exam 2: Chapters 19,20,21 i TB MC Qu. 19-66 (Static) Which of the following... Which of the following statements is true? Multiple Choice Fixed overhead costs are treated the same under both absorption costing and variable costing Reported income under absorption costing is not affected by production level changes. Under absorption costing, fixed overhead is expensed as a period expense. O Under variable costing, direct materials and direct labor are expensed as period expenses. Under variable costing, fixed overhead is expensed as a period expense.