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Summarized data for 2016 the first year of operational for German Products, Inc. are as follows: a. Prepare an income an income statement based on
Summarized data for 2016 the first year of operational for German Products, Inc. are as follows: a. Prepare an income an income statement based on full variable costing. b. Prepare an income an income statement based on variable costing. c. Assume that you must decide quickly whether to accept a special one-time order for 1,000 for $30 per unit. Which income statement presents the most relevant data? Determine the profit or loss on the special order based solely on these data. d. If the ending inventory is destroyed by fire, which costing approach would you use filing an insurance claim fur the fire loss? Why
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