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Absorption costing, also known as “full costing,” is a managerial accounting method for capturing all costs associated with manufacturing a particular product. The fixed and variable costs like direct materials, direct labor, rent, and insurance, are all considered as product costs under this method.
Statements: S > P = N ≥ G; Y = G ≥ J < O
Conclusions:
I. P ≥ J
II. J < P
Statement: A < Z > I < B > S = O ≤ N
Conclusions:
I. S= N
II. B > O
Statements: T = U, V < M, W ≥ T, U ≤ V
Conclusion:
I. U ≤ W
II. M > U
Statements: C ≥ E > M ≤ Z < B; G ≥ Z > K
Statements: F > V > W ≥ L > G; F ≤ O = M < I
Conclusions: I. M > L II. V < I
Statement:A≤T<B =C ≤P<D;D>J ≥S
I. C >S
II. J < D
Statements: M ≥ S, V ≤ S, O < N > J, V < O
Conclusion:
I. S > J
II. N ≥ V
Statements:
L ≤ J ≤ C = N; W ≥ X > L
Conclusions:
I. J ≤ X
II. X ˃ W