Question: 22. Operating income calculated using variable costing is equal to operating income calculated using full costing when: a. The company has no inventories b. The

22. Operating income calculated using variable costing is equal to operating income calculated using full costing when: a. The company has no inventories b. The beginning and ending inventory contain the same amount of costs c. The company has no fixed costs. d. a and c are correct.

23. The cost of maintaining the manufacturing equipment is a cost of: a. Prevention b. Evaluation c. Internal failure d. External failure

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