Question: Compare and contrast variable costing and absorption costing methods using numerical analysis. For a specific product line, GHI Corporation incurred total fixed manufacturing overhead costs

Compare and contrast variable costing and absorption costing methods using numerical analysis. For a specific product line, GHI Corporation incurred total fixed manufacturing overhead costs of $500,000. During the accounting period, the company produced 25,000 units. If the variable manufacturing cost per unit is $40, calculate the difference in net income between variable costing and absorption costing methods.

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