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Prepare an absorption-costing income statement

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Reference no: EM132950263

During 2020, Rafael Corp. produced 52,800 units and sold 42,240 for $16 per unit. Variable manufacturing costs were $6 per unit. Annual fixed manufacturing overhead was $84,480. Variable selling and administrative costs were $2 per unit sold, and fixed selling and administrative expenses were $19,100.

Problem (a) Prepare an absorption-costing income statement.

Reference no: EM132950263

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