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Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5 , 3 0 0 rackets and sold 4 , 2
Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced rackets and sold Each racket was sold at a price of $ Fixed overhead costs are $ for the year, and fixed selling and administrative costs are $ for the year. The company also reports the following per unit variable costs for the year:
Direct materials $ Direct labor Variable overhead Variable selling and administrative expenses Required: Prepare an income statement under absorption costing.
Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced rackets and sold Each racket was sold at a price of $ Fixed overhead costs are $ for the year, and fixed selling and administrative costs are $ for the year. The company also reports the following per unit variable costs for the year:
Direct materials $
Direct labor
Variable overhead
Variable selling and administrative expenses
Required:
Prepare an income statement under absorption costing.
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