The primary difference between absorption and variable costing is: O variable costing treats only direct materials and direct labor as product costs while absorption costing treats direct materials, direct labor, and variable manufacturing overhead as product costs O variable costing treats direct materials, direct labor, variable manufacturing overhead, and fixed manufacturing overhead as product costs while absorption costing treats only direct materials, direct labor, and variable manufacturing overhead as product costs variable costing treats only direct materials, direct labor, variable manufacturing overhead, and variable selling and administrative expenses as product costs while absorption costing treats direct materials, direct labor, variable manufacturing overhead, and fixed manufacturing overhead as product costs variable costing treats only direct materials, direct labor, and variable manufacturing overhead as product costs while absorption costing eats direct materials, direct labor, variable manufacturing overhead, and fixed manufacturing overhead as product costs None of the above