3.Which one of the following statement is not a feature of absorption costing?

Preparing stock records using full costing

Preparing stock records using variable costing

Preparing stock records using conventional costing

None of these

4. Select the correct statement from the following regarding factory overhead costs:

It is the total of indirect costs of material and labor

It is the total of all the costs of material and labor

All of these

It is the total of costs of direct material and indirect labor