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Question - Crane Company sells its product for $11200 per unit. Variable costs per unit are: manufacturing, $7000; and selling and administrative, $120. Fixed costs are: $28800 manufacturing overhead, and $38800 selling and administrative. There was no beginning inventory at 1/1/20. Production was 24 units per year in 2020-2022. Sales were 24 units in 2020, 20 units in 2021, and 28 units in 2022. Determine the income under variable costing for 2021?
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