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Kaiser Corp. had a net income of $1,150,000 based on variable costing. Beginning and ending inventories were 70,000 units and 68,000 units, respectively. Assume the fixed overhead per unit was $2.10 for both the beginning and ending inventory. What is the net income under absorption costing?

Kaiser Corp. had a net income of $1,150,000 based on variable costing. Beginning and ending inventories were 70,000 units and 68,000 units, respectively. Assume the fixed overhead per unit was $2.10 for both the beginning and ending inventory. What is the net income under absorption costing?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Kaiser Corp. had a net income of $1,150,000 based on variable costing. Beginning and ending inventories were 70,000 units and 68,000 units, respectively. Assume the fixed overhead per unit was $2.10 for both the beginning and ending inventory. What is the net income under absorption costing?
Transcribed Image Text:Kaiser Corp. had a net income of $1,150,000 based on variable costing. Beginning and ending inventories were 70,000 units and 68,000 units, respectively. Assume the fixed overhead per unit was $2.10 for both the beginning and ending inventory. What is the net income under absorption costing?
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