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Lite Packs Company (LPC) makes and sells ultra-light backpacks. During Year 1. LPC sold 1600 backpacks for $51 each Each bsichpack has a variable cost

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Lite Packs Company (LPC) makes and sells ultra-light backpacks. During Year 1. LPC sold 1600 backpacks for $51 each Each bsichpack has a variable cost of $28 and the company had total fixed cost $5,400. Required: Prepare a contribution format income statement for Lite Packs Company

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