Under absorption costing, which of the following costs would not be included in finished goods inventory? a. direct labor cost b. direct materials cost c. variable and fixed selling and administrative expenses d. variable and fixed factory overhead cost The total manufacturing cost variance consists of a. direct materials price variance, direct labor cost variance, and fixed factory overhead volume variance b. direct materials cost variance, direct labor rate variance, and factory overhead cost variance c. direct materials cost variance, direct labor cost variance, and factory overhead cost variance d. direct materials cost variance, direct labor cost variance, and variable factory overhead controllable variance Under variable costing, which of the following costs would be included in finished goods inventory? a. salary of salesperson b. wages of carpenters in a furniture factory C. salary of vice president of finance d. straight-line depreciation on factory equipment