Sprint LTE 1:27 AM 53%0 KBack Discussion Questions Chapter... Detail Submission Grade 1. What types of costs are customarily included in the cost of manufactured products under (a) the absorption costing concept and (b) the variable costing concept? 2. Which type of manufacturing cost (direct materials, direct labor, variable factory overhead, fixed factory overhead) is included in the cost of goods manufactured under the absorption costing concept but is excluded from the cost of goods manufactured under the variable costing concept? 3. Which of the following costs would be included in the cost of a manufactured product according to the variable costing concept: (a) rent on factory building, (b) direct materials, (c) property taxes on factory building, (d) electricity purchased to operate factory equipment, (e) salary of factory supervisor, (f) depreciation on factory building, (g) direct labor? 4. In the variable costing income statement, how are the fixed manufacturing costs reported and how are the fixed selling and administrative expenses reported? Dashboard Calendar To Do Notifications Inbox