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how are absorption costing and variable costing the same?How are they different?

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Accounting

howare absorption costing and variable costing the same?How are theydifferent?

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1The basic difference between absorption and variable costing relates to the heading of fixed manufacturing overhead Under absorption costing fixed manufacturing overhead is treated as a product cost and hence is an asset until products are sold Under variable costing fixed manufacturing overhead is treated as a period cost and is deducted in full from the current periods revenues 2Selling and administrative expenses treated as period costs under variable costing the    See Answer
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