Question: Please answer each of the following questions in detail. Provide in-text citations and include examples whenever applicable. Is variable costing income statement applicable to service operations? If so, provide a hypothetical example of variable costing income statements in a service operation. Explain your example in detail and provide in-text citations. Explain the difference between variable costing and absorption costing income statements.
Provide a hypothetical income statement in both formats in which the number of units sold is different than the number of units manufactured. Explain the contrast between the two formats.Note:1. Define the words in the own words. Do not directly quote from the textbook.2. Need to include hypothetical examples.2. Need to write at least 2 paragraphs of the written part. (Exclude hypothetical example)3. Need to include the information from the textbook as the reference.4. Need to include at least 2 peer reviewed article as the reference.5. Provide in-text citations and include examples whenever applicable. For more information on Managerial Accounting read this: https://en.wikipedia.org/wiki/Management_accounting
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