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Question - Groovelex Inc. has collected the following data for the current year:
Beginning inventory 50 units
Units produced 550 units
Units sold 600 units
Sale price $120 per unit
Direct materials $25 per unit
Direct labor $12 per unit
Variable manufacturing overhead $13per unit
Fixed manufacturing overhead $16,500 per year
Variable selling and administrative costs $6 per unit
Fixed selling and administrative costs $12,500 per year
Required - What is the unit product cost for the current year using absorption costing?
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