Which of the following statements is true? Multiple Choice Variable costing excludes all overhead from product costs. Variable costing treats fixed overhead as a period cost. Absorption costing treats fixed overhead as an expense in the period it is incurred. Managers can manipulate earnings more easily under variable costing by varying the production level. Absorption costing treats fixed overhead as a period cost. Alexis Company reports the information below. The contribution margin ratio for the Northern Territory is: Multiple Choice 50% 43% 44% soo