When the number of units produced exceeds the number of units sold, variable costing yields a lower net income than if full costing had been used.
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Q2: Variable costing income is more useful for
Q3: The cost of goods sold is always
Q4: If a company has no fixed costs,
Q5: In variable costing, fixed manufacturing overhead is
Q6: If the number of units sold is
Q7: Contribution margin is reported on an absorption
Q8: Absorption costing is required for external reporting
Q9: Under variable costing, net income can be
Q10: Under full costing, all fixed costs of
Q11: The total amount reported on an income
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