141.Identify the treatment of each of the following costs under variable costing and absorption costing:
Variable CostingAbsorption Costing
Product CostPeriod CostProduct CostPeriod Cost
1. Direct materials
2. Direct labor
3. Variable manufacturing overhead
4. Fixed manufacturing overhead
5. Variable selling
6. Fixed selling
7. Variable administrative
8. Fixed administrative
142.What costs are treated as product costs under the absorption costing method?
143.What costs are treated as product costs under the variable costing method?
144.How can the use of absorption costing result in overproduction?
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