Identify the Treatment of Each of the Following Costs Under

Essay

Identify the treatment of each of the following costs under variable costing and absorption costing:
$$\begin{array} { | l | l | l | l | l | } \hline & \text { Variable Costing } & &\text { Absorption Costing } \\\hline & \text { Product Cost } & \text { Period Cost } & \text { Product Cost } & \text {Period Cost } \\\hline \text { 1. Direct materials } & & & & \\\hline \text { 2. Direct labor } & & & & \\\hline \text { 3. Variable manufacturing overhead } & & & & \\\hline \text { 4. Fixed manufacturing overhead } & & & & \\\hline \text { 5. Variable selling } & & & & \\\hline \text { 6. Fixed selling } & & & & \\\hline \text { 7. Variable administrative } & & & & \\\hline \text { 8. Fixed administrative } & & & & \\\hline\end{array}$$