please please solve both questions urgently and perfectly. I need correct answers and mention each part answer as you give. I will give positive rating if you give correct anseer for both questions

10 A corporate accountant is preparing financial statements to be distributed to internal managers. The company should prepare the income statement using 8 00:45:54 Multiple Choice absorption costing because it is better for controlling purposes. variable costing because it is better for planning purposes. absorption costing because it follows GAAP. variable costing because it follows GAAP. Which of the following is true related to absorption costing? 7 Multiple Choice 8 00:45:33 O Direct labor costs are period costs. Fixed manufacturing overhead costs are a product cost. Fixed selling and administrative costs are product costs. Direct materials costs are a period cost