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Explain operating cost classifications in managerial account

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Question 1: Explain the difference between public accounting and managerial accounting. Provide a hypothetical example of an income statement for public reporting. Provide a hypothetical example of managerial accounting income statement in process costing format. Explain your examples in detail.

Question 2: Explain operating cost classifications in managerial accounting, namely, manufacturing vs. selling/admin, variable vs. fixed, direct vs. indirect, and variable overhead vs. fixed overhead. Include examples for all.

Question 3: Explain the predetermined variable overhead criterion and include an example.

Reference no: EM132683011

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