Prepare income statements based on standard variable costing

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Reference no: EM131821925

Question: Absorption and Variable Costing Assume the same facts as in the preceding problem. In addition, consider the following actual data for 20X1:

1. For 20X1, prepare income statements based on standard variable (direct) costing and standard absorption costing.

2. Explain why operating income differs between variable costing and absorption costing. Be specific.

Reference no: EM131821925

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