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FastRide Inc. manufactures and sells 50 -inch television sets and uses standard costing. Actual data relating to January, February, and March are as follows. (Click
FastRide Inc. manufactures and sells 50 -inch television sets and uses standard costing. Actual data relating to January, February, and March are as follows. (Click to view the data.) The selling price per unit is $3,100. Required 1. Present statements of comprehensive income for January, February, and March under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. Requirement 1a. Present statements of comprehensive income for January, February, and March under variable costing. Data table Complete the top half of the statement of comprehensive income for each month first, and then complete the bottom portion. \begin{tabular}{|c|c|c|c|} \hline Absorption-costing & Variable-costing & & \\ \hline operating income & - operating income & = & - \\ \hline & - & = & - \\ \hline & - & = & - \\ \hline & - & = & - \\ \hline \end{tabular} he difference between absorption and variable costing is due solely to moving into inventories as inventories and out of inventories as they
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