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(a)Explain the terms Absorption Costing and Variable (Direct) Costing. (b)How does Variable (Direct) Costing differ from Absorption Costing? (c)What is the difference between Expired Costs

(a)Explain the terms Absorption Costing and Variable (Direct) Costing.

(b)How does Variable (Direct) Costing differ from Absorption Costing?

(c)What is the difference between Expired Costs and Unexpired Costs?

(d)What is the difference between Job Order Costing System and Process Costing System?

Provide an example for each.

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