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Prepare an absorption-costing income statement

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Question - During 2020, Rafael Corp. produced 55,000 units and sold 49,500 for $17 per unit. Variable manufacturing costs were $5 per unit. Annual fixed manufacturing overhead was $99,000. Variable selling and administrative costs were $2 per unit sold, and fixed selling and administrative expenses were $18,000. Prepare an absorption-costing income statement.

Reference no: EM133030571

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