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During 2020, Rafael Corp. produced52,800units and sold42,240for $16per unit. Variable manufacturing costs were $6per unit. Annual fixed manufacturing overhead was $84,480. Variable selling and administrative
During 2020, Rafael Corp. produced52,800units and sold42,240for $16per unit. Variable manufacturing costs were $6per unit. Annual fixed manufacturing overhead was $84,480. Variable selling and administrative costs were $2per unit sold, and fixed selling and administrative expenses were $19,100.
(a)
Prepare an absorption-costing income statement.
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