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Business, 27.05.2020 20:08 reinajoy

During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per unit, Direct labor, $2 per unit, Variable overhead, $4 per unit, and Fixed overhead, $390,000. The company produced 39,000 units, and sold 30,000 units, leaving 9,000 units in inventory at year-end. Income calculated under variable costing is determined to be $415,000. How much income is reported under absorption costing

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