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Munn Bicycle Company manufactures bicycles specifically for college campuses. The bicycles sell for $100 and are very sturdy, with built-in saddlebags on the rear designed to carry backpacks. Selected data for last year's operations are as follows: Required: Hide A. Prepare income statement using variable costing method. Prepare an income statement using the Absorption costing method. Enter all amounts as positive numbers.
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Poobah Manufacturers Inc. has estimated total factory overhead costs of $95,000 and 10,000 direct labor hours for the current fiscal year. If job number 117 incurred 1,600 direct labor hours, the work in process account will be debited and factory..
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