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Which of the following statements about variable costing is true? (Select the three that apply.) a. It treats direct labor as a product cost. b.

Which of the following statements about variable costing is true? (Select the three that apply.)

a. It treats direct labor as a product cost.

b. It treats variable overhead as a product cost.

c. It treats fixed overhead as a product cost.

d. It shows gross profit as a major subtotal.

e. It facilitates CVP analysis.

f. lt is required by GAAP.

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