The primary difference between variable costing and absorption costing is:
a. in absorption costing, fixed manufacturing overhead is a product cost.
b. in variable costing, fixed manufacturing overhead is a product cost.
c. in absorption costing, fixed selling and administrative costs are product costs.
d. in variable costing, variable selling and administrative costs are product costs.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

answer; only identify and interpret trends in the marketplace;

answer; sensory adaptation;