Explain job order costing and activity-based costing income statements in general terms. Prepare income statement in both job order costing and activity-based costing formats for a hypothetical case. Your example should include at least three activities and at least two products. If you do both correctly the operating income in both statements should be identical. Explain the initial assumptions and the calculations in detail. Provide in-text citations. At least 5 scholarly references are required.
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