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Compute the net income under absorption costing

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Reference no: EM132615461

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

Units produced this year 40,000 units

Units sold this year 24,000 units

DM $24 per unit

DL $26 per unit

Variable OH $3 per unit

Fixed OH $200,000 in total

Required - Given Advanced Company's data, and the knowledge that the product is sold for $80 per unit and operating expenses are $350,000, compute the net income under absorption costing.

Reference no: EM132615461

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