Which of the following statements is true? Multiple Choice Variable costing treats direct materials as a period cost Variable costing treats direct labor as a period cost. Variable costing treats variable manufacturing overhead as a period cost Variable costing treats direct materials as a period cost. Variable costing treats direct labor as a period cost. Variable costing treats variable manufacturing overhead as a period cost. Variable costing treats fixed manufacturing overhead as a period cost. Which of the following statements is true? Multiple Choice In variable costing, variable manufacturing overhead costs flows through the inventory accounts on the balance sheet before being recorded as part of cost of goods sold on the income statement In variable costing, variable manufacturing overhead costs flows through the inventory accounts on the balance sheet before being recorded as part of selling and administrative expenses on the income statement In variable costing, variable manufacturing overhead costs flows through the inventory accounts on the balance sheet before being recorded as sales revenue on the income statement In vanable costing, variable manufacturing overhead costs flows through the inventory accounts on the balance sheet before being recorded as part of cost of goods sold on the income statement In variable costing, variable manufacturing overhead costs flows through the inventory accounts on the balance sheet before being recorded as part of selling and administrative expenses on the income statement In variable costing, variable manufacturing overhead costs flows through the inventory accounts on the balance sheet before being recorded as sales revenue on the income statement In variable costing, variable manufacturing overhead costs are recorded as period expenses on the income statement as incurred