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Chapter 20 Ming Company had income of $765,200 based on variable costing. Beginning and ending finished goods inventories were 7,100 units and 4,500 units, respectively.
Chapter 20
Ming Company had income of $765,200 based on variable costing. Beginning and ending finished goods inventories were 7,100 units and 4,500 units, respectively. Assume the fixed overhead per unit was $2.30 for both the beginning and ending finished goods inventory. What is income under absorption costing? (Amounts to be deducted should be indicated with a minus sign.) Step by Step Solution
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