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What are differences between variable and absorption costing

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Question 1:

For what is cost-volume-profit (CVP) analysis used? What are some of the key underlying assumptions that make CVP analysis useful for decision makers? Why might decision makers use CVP analysis? (must be 130-135 words)

Question 2:

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What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision-making? Why? As a manager, which would you prefer? Why? (must be 130 -135 words)

Reference no: EM131231275

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