Concept Introduction:
Variable costing: Variable costing is one of the methods of calculation of product costs. Under this method, only the variable
Absorption costing: Absorption costing is one of the methods of calculation of product costs. Under this method, the fixed manufacturing
Requirement-1:
To Calculate: The Gross profit and Operating income using the Absorption costing
Requirement-2:
To Calculate: The Contribution Margin and Operating income using the Variable costing
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Horngren's Accounting (11th Edition)
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