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Variable and Absorption Costing-Service Company Jensen' Tailoring provides custom tailoring services. After the company's first year of operations, its owner prepared the following summarized data
Variable and Absorption Costing-Service Company Jensen' Tailoring provides custom tailoring services. After the company's first year of operations, its owner prepared the following summarized data report for 2019: a. Prepare an income statement based on full absorption costing. Only use a negative sign with your answer for net income (loss), if the answer represents a net loss. Otherwise, do not use negative signs with any answers. Round answers to the nearest whole number, when applicable. b. Prepare an income statement based on variable costing. Only use a negative sign with your answer for net income (loss), if the answer represents a net loss. Otherwise, do not use negative signs with a answers. Round answers to the nearest whole number, when applicable. c. Assume that you must decide quickly whether to accept a special one-time order to alter 50 band costumes for $125 per costume. Which income statement presents the most relevant data? Determine the apparent profit or loss on the special order based solely on these data. Use a negative sign with your answer if the special order creates an apparent loss. Round answer to the nearest whole number
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