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* Kolb Company prepared its income statements for the current year using three alternative cost accounting systems as follows: Required: Explain your answers to the

* Kolb Company prepared its income statements for the current year using three alternative cost accounting systems as follows: Required: Explain your answers to the following questions: * a. Match the following cost systems with alternatives A, B, and C: (1) standard full cost system; (2) actual absorption cost system; and (3) actual variable cost system. * b. How much, if any, of the factory overhead cost was variable? * c. What was the actual factory overhead cost incurred for the year? * d. What was the nonfactor costs incurred for the year? * e. What percentage was actual factory volume for the year to normal factory volume? * f. Which of the alternative statements was not prepared in accordance with generally accepted accounting principles? * g. How did actual direct material cost compare with planned direct material cost

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