Provide a report comparing between the advantages and disadvantages of each accounting method and their impact on the reported income. Prepare some cost accounting information, analyze and use them to prove to the managerial accountant the differences between the two cost accounting methods and their impact on the numbers in the financial statement.Your analysis must cover the following topic:
You need to demonstrate your understanding of the cost accounting concepts and differences between the two cost allocation methods. Your analysis should include discussing some examples of the limitations of cost accounting methods.
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