149.How will net income under variable costing compare to net income under absorption costing in the following three situations? Explain briefly the cause of any differences.(a) Units produced equal...

149.How will net income under variable costing compare to net income under absorption costing in the following three situations? Explain briefly the cause of any differences.


(a) Units produced equal units sold
(b) Units produced exceed units sold
(c) Units produced are less than units sold

150.What is a contribution margin report?

151.What are the limitations of using variable costing?

152.What is the general procedure for converting variable costing net income to absorption costing net income?