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Compute the net income under absorption costing

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Reference no: EM132617366

Question - Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.

Units produced this year 39,000 units

Units sold this year 23,400 units

Direct materials $23per unit

Direct labor $25per unit

Variable overhead $3per unit

Fixed overhead $195,000 in total

Given Advanced Company's data, and the knowledge that the product is sold for $75 per unit and operating expenses are $340,000, compute the net income under absorption costing.

Reference no: EM132617366

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