Marginal Costing (also called variable costing) explicitly separates costs into fixed and variable components. Only variable costs are charged to products; fixed costs are treated as period costs. In Absorption Costing, both fixed and variable overheads are absorbed into product costs without explicit separation. Standard Costing focuses on pre-set cost benchmarks. Direct Costing is essentially another name for marginal/variable costing, but Marginal Costing is the most precise and standard term here.