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plz help need done before 12am Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,400 rackets and sold 5,300.
plz help need done before 12am
Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,400 rackets and sold 5,300. Each racket was sold at a price of $94. Fixed overhead costs are $85,760 for the year, and fixed selling and administrative costs are $65,600 for the year. The company also reports the following per unit variable costs for the year Direct materials Direct labor Variable overhead Variable selling and administrative expenses Required: Prepare an income statement under absorption costing, $ 12.12 8.12 5.16 2.40 ACES INCORPORATED Income Statement (Absorption Costing) Sales $ 498.200 Cost of goods sold 162,573 Gross profit $ 335,627 Selling and administrative expenses 78,320 Income $ 257,307 Bed text is no need to come podeu Step by Step Solution
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