In a reporting period where the company has no beginning inventory and manufactures more inventory than it sells, we expect net Income to be higher under Variable Costing than Absorption Costing. net Income to be higher under Absorption Costing than Variable Costing. net Income to be the same under Variable and Absorption Costing. net Income to be unpredictable under Variable and Absorption Costing. Which of the following statements is true? Under variable costing, direct materials and direct labor are expensed as period expenses Under variable costing, fixed manufacturing overhead is expensed as period expenses. Reported income under absorption costing is not affected by production level changes, Under absorption costing, fixed manufacturing overhead is expensed as period expenses. Fixed manufacturing overhead costs are treated the same under both absorption costing and variable costing