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Variable and Absorption Costing Summarized data for 2019 (the first y.docx

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Variable and Absorption Costing Summarized data for 2019(the first year of operations) for Gorman Products, Inc., areas follows: Sales (70,000 units) Production costs (80,000units) $2,800,000 Direct material Direct labor 880,000720,000 Manufacturing overhead: Variable Fixed 544,000320,000 Operating expenses: Variable 175,000 240,00060,000 18,000 28,800 30,000 Fixed Depreciation onequipment Real estate taxes Personal property taxes(inventory & equipment) Personnel department expenses a.Prepare an income statement based on full absorption costing.

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Term
Summer
Professor
N/A
Tags
Sales, Gorman Products Inc

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