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Bharat Bicycle, located in India, produces an inexpensive yet rugged bicycle for use on crowded city streets. The company sells the bicycle for 650 rupees.

Bharat Bicycle, located in India, produces an inexpensive yet rugged bicycle for use on crowded city streets. The company sells the bicycle for 650 rupees. (Indian currency is denominated in rupees, denoted by R.) Selected data for the company's operations last year follow

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An absorption costing income statement prepared by the company's accountant appears below: Sales (7,400 units >

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