Question: What's the key difference between full (absorption) costing and variable costing? Why does it make sense that one is required for GAAP reporting while the

What's the key difference between full (absorption) costing and variable costing? Why does it make sense that one is required for GAAP reporting while the other makes a LOT of sense for making internal production decisions?Discuss benefits and disadvantages of each one for external and internal use.

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