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Which of the following statements is true? 1. Variable manufacturing overhead costs are treated as product costs under both absorption and variable costing 2. Absorption

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Which of the following statements is true? 1. Variable manufacturing overhead costs are treated as product costs under both absorption and variable costing 2. Absorption costing treats all manufacturing costs as product costs. Only statement is true o Only statement il is true O Both statements are true Noither statement is true

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