In Chapter 8 we learn that under variable costing Select one: a. the cost of direct material is treated as a period cost. O b. the cost of direct labour is treated as a period cost. O c. the cost of fixed manufacturing overhead is treated as a period cost. O d. selling expenses are treated as a product cost. In Chapter 8 we learn that income will be lower under the absorption costing approach than net income under the variable costing approach Select one: O a. when units produced equal units sold. O b. when units produced are greater than units sold. O c. when units sold are greater than units produced. O d. in all production scenarios