Assume that a company's variable manufacturing costs per unit are $80, its fixed manufacturing overhead is $24 per unit, and its variable selling expense is $12 per unit. What is the company's unit product cost under absorption costing? Multiple Choice $104 $116 $80 $92 Which of the following statements is true? Multiple Choice O In variable costing, fixed manufacturing overhead costs are recorded as period expenses on the income statement as incurred. In variable costing, fixed manufacturing overhead costs flows through the inventory accounts on the balance sheet before being recorded as sales revenue on the income statement In variable costing, fixed manufacturing overhead costs flows through the inventory accounts on the balance sheet before being recorded as part of cost of goods sold on the Income statement In variable costing, fixed manufacturing overhead costs flows through the inventory accounts on the balance sheet before being recorded as part of selling and administrative expenses on the income statement Which of the following statements is false? Multiple Choice Variable costing treats fixed manufacturing overhead as a product cost. Variable costing treats variable manufacturing overhead as a product cost. O Variable cosung treats direct labor as a product cost. Variable costing treats direct materials as a product cost