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5) Which of the following statements is true? 1. All manufacturing overhead costs are treated...

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Accounting

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

A) Only statement I is true. B) Only statement II is true. C) Both statements are true. D) Neither statement is true.

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