Lehighton Chalk Company manufactures blackboard chalk for educational uses. The company's product is sold by the box
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Lehighton Chalk Company had no beginning or ending work-in-process inventories for either year.
1. Prepare operating income statements for both years based on absorption costing.
2. Prepare operating income statements for both years based on variable costing.
3. Prepare a numerical reconciliation of the difference in income reported under the two costing methods used in requirements (1) and (2).
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Related Book For
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-0078110917
9th edition
Authors: Ronald W. Hilton
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