Question: The report should include: ' Projected income statement, actual income statement, and exible budget ' All relevant variances ' Interpretations of those variances - Hint:

The report should include: ' Projected income statement, actual income statement, and exible budget ' All relevant variances ' Interpretations of those variances - Hint: Overhead is applied based on direct labor hours and overfunderapplied overhead is applied directly to cost of goods sold

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