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Palmer Manufacturing produces weather vanes. For the year just ended, Palmer produced 10,000 weather vanes with the following total costs:
Direct materials $20,000
Direct labor 35,000
Overhead 10,000
Selling expenses 6,250
Administrative expenses 14,400
During the year, Palmer sold 9,800 units for $12 each. Beginning finished goods inventory consisted of 630 units with a total cost of $4,095. There were no beginning or ending inventories of work in process.
Required:
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