The annual data that follow pertain to Rays, a manufacturer of swimming goggles. (Rays had...
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Accounting
The annual data that follow pertain to Rays, a manufacturer of swimming goggles. (Rays had no beginning inventories.) (Click the icon to view the data.) Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Rays for the year. 2. Which statement shows the higher operating income? Why? Reconcile the difference between the two statements. Data table
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