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DeAnne Company produces a single product. The company's variable costing income statement for August appears below: DeAnne Company Income statement For the month ended August

DeAnne Company produces a single product. The company's variable costing income statement for August appears below:

DeAnne Company Income statement For the month ended August 31
Sales ($25 per unit) $1,400,000
Variable expenses:
Variable cost of goods sold 504,000
Variable selling expense

112,000

Total variable expenses

616,000

Contribution margin

784,000

Fixed expenses:
Fixed manufacturing 153,000
Fixed selling and administrative

51,000

Total fixed expenses 204,000
Net operating income

$580,000

The company produced 51,000 units in August and the beginning inventory consisted of 24,000 units. Variable production costs per unit and total fixed costs have remained constant over the past several months. The value of the company's inventory on August 31 under the absorption costing method is (Do not round your intermediate calculations.):

$228,000
$266,000
$171,000
$283,304

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