Which of the following statements is true? Under variable costing, direct materials and direct labor are expensed as period expenses

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Which of the following statements is true? Under variable costing, direct materials and direct labor are expensed as period expenses. Under variable costing, fixed manufacturing overhead is expensed as period expenses. Fixed manufacturing 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 manufacturing overhead is expensed as period expenses.