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Pharoah Company has sales of $1,622,000 for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses.

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Pharoah Company has sales of $1,622,000 for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses. Variable Fixed Product costs $517,000 $567,000 Selling expenses 117,000 92,000 Administrative expenses 97,000 84,000 Calculate the company's net income under CVP for 2022. Net Income $

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