Which one of the following is true about Absorption Costing? Done It records variable production costs as period cost It records fixed production cost as period cost It records fixed production costs as product cost It records variable production cost as an admin expense Which one of the following methods offers bonus on the basis of saving in cost of operation? Done Priest man bonus plan Budgeted bonus plan Towne's gain sharing plan Scanlon plan The costing system, which produces the lowest value of finished goods and work in process for a business, is: Done Conventional costing Marginal costing Full costing Absorption costing