Business, 08.10.2019 22:00 JANA279

The absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,700 cost of goods sold 203,850 gross margin 41,850 selling and administrative expense 30,050 net operating income $ 11,800 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing.

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The absorption costing income statement prepared by the company’s accountant for last year appears b...

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