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Wyoming Manufacturing Company makes wooden pallets that are sold to trucking companies. Following are inventory, sales and production figures for June 2013: Required: Compute and
Wyoming Manufacturing Company makes wooden pallets that are sold to trucking companies. Following are inventory, sales and production figures for June 2013: Required: Compute and income statement using the absorption method. Compute an income statement using the variable method. Reconcile and explain the differences. Which method complies with GAAP and why? Why might management convert the internal reporting to a variable statement at the end of the period
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