Which of the following statements is true regarding absorption costing? Multiple Choice It assigns all manufacturing costs, both fixed and variable, to units of product. It treats some nonmanufacturing costs os product costs and some as period costs. It assigns all nonmanufacturing costs, both fixed and variable, to units of product It relies on a predetermined overhead rate to apply direct material cost to units of product Which of the following statements is true? Multiple Choice O The spending variance for a fixed expense will equal zero if the actual expense incurred equals the expense expected for the actual level of activity The spending variance for a fixed expense will be unfavorable if the amount of the expense contained in the flexible budget is greater than the actual amount of the expense. O. The spending variance for a fixed expense will be unfavorable if the amount of the expense contained in the flexible budget is less than the planned amount of the expense. The spending variance for a fixed expense can be favorable or unfavorable depending on whether the actual expense is greater than or less than the planned expense