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Industry manufactures and sells 15,000 components per year as one part of its production activities. The annual costs to manufacture the part are as follows:
Direct materials $150,000Direct labor $200,000Variable manufacturing overhead $90,000Fixed manufacturing overhead (allocated) $72,000Fixed manufacturing costs (unique to part) $48,000 Total $560,000
Problem 1: An outside supplier has offered to sell the component to Galaxy for $34 each. If Galaxy purchases the component instead of manufacturing it, what would be the effect on Galaxy's annual net income?
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