Under absorption costing, which of the following are treated as a product cost (select any that apply). Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead Variable Selling and Administrative Expenses Variable Selling and Administrative Expenses None of the above True or False. One of the main differences between activity-based costing and traditional costing is that direct materials may be considered a period cost under activity-based costing, True False Under activity-based costing, which of the following are grouped together as overhead costs (select any that apply). Direct Materials Direct Labor Manufacturing Overhead Direct Selling and Administrative Expenses Indirect Selling and Administrative Expenses None of the above