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Practice Problem 1 Traditional Income Statement - Selling Price =$750/ unit - The company purchases a unit of product from a supplier for $375 (to

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Practice Problem 1 Traditional Income Statement - Selling Price =$750/ unit - The company purchases a unit of product from a supplier for $375 (to sell) - Variable Selling =$50/ unit - Variable Admin. =20% of total administrative expense Prepare a Contribution Format Income Statement

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