Question 16 3 pts In variable costing, fixed manufacturing overhead is considered a period cost because these costs are direct costs incurred for production these costs are incurred whether or not the company manufactures any goods these costs are indirectly related to production these are not incurred in the period in which the units are produced 3 pts Which of the following statements is true of absorption and variable costing methods? Both costing methods consider selling and administrative costs to be period costs. Both costing methods consider fixed manufacturing overhead to be product costs. Variable costing considers variable selling and administrative costs to be product costs. Absorption costing considers fixed manufacturing overhead to be period costs. 3 pts Question 18 Which of the following will appear as a line item in the income statement prepared under variable costing? Work-in-Process Inventory Total Cost of Goods Sold Contribution Margin Gross Profit Question 18 3 pts Which of the following will appear as a line item in the income statement prepared under variable costing? Work-in-Process Inventory Total Cost of Goods Sold Contribution Margin Gross Profit Mirabella Company assigns direct materials, direct labor and both variable and fixed overhead to its product costs. Mirabella Company is using variable costing composite costing batch costing absorption costing