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Kevin Jewelry Company sells its product for $70 per unit. Variable manufacturing costs per unit are $20, and fixed manufacturing costs at the normal operating level of 5,000 units are $35,000. Variable expenses are $8 per unit sold. Fixed administration expenses total $40,000. Kevin Jewelry Company had no beginning inventory in 2018. During 2018, the company produced 5,000 units and sold 2,000.
Question1 : What would the net income be for Kevin Jewelry Company in 2018 using both variable costing and absorption costing?
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