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2} Last year, fixed manufacturing overhead was $30,000, variable manufacturing costs were $48,000, fixed selling and administration costs were $20,000, and variable selling administrative expenses
2} Last year, fixed manufacturing overhead was $30,000, variable manufacturing costs were $48,000, fixed selling and administration costs were $20,000, and variable selling administrative expenses were $9,600. There was no beginning inventory. During the year, 3,000 units were produced and 2,400 units were sold at a price of $40 per unit. Net income would be: a) highest under absorption costing. d) impossible to determine from the b) highest under variable costing. information given. c) the same under both systems
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