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Exercise 1 9 - 8 ( Algo ) Variable costing income statement LO P 2 Kenzi, a manufacturer of kayaks, began operations this year. During

Exercise 19-8(Algo) Variable costing income statement LO P2
Kenzi, a manufacturer of kayaks, began operations this year. During this year, the company produced 1,000 kayaks and sold 750 at a price of $1,000 each. At year-end, the company reported the following income statement information using absorption costing.
Sales (750$1,000)
Cost of goods sold (750$425)
Gross profit
Selling and administrative expenses
Income
\table[[$75,0
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