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Schmidt Company sells glass vases at a wholesale price of $3 per unit. The variable cost of manufacture is $1.75 per unit. The fixed costs

  • Schmidt Company sells glass vases at a wholesale price of $3 per unit. The variable cost of manufacture is $1.75 per unit. The fixed costs are $18,000 per month. Schmidt sold 5,500 units during this month. Calculate Schmidt's operating income (loss) for this month.

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