TRUE or FALSE? All else constant, a decrease in fixed manufacturing overhead cost will not affect operating income under variable costing. O True O False TRUE or FALSE? Under variable costing, a portion of fixed manufacturing overhead cost is deferred in inventory when production volume exceeds sales volume. O True O False 3 15 TRUE or FALSE? When reconciling variable costing and absorption costing operating income, fixed manufacturing overhead costs released from inventory under absorption costing should be deducted from variable costing operating income to arrive at absorption costing operating income. O True O False