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Fomtech, Inc. had net income of $750,000 based on variable costing. Beginning and ending inventories were 50,000 units and 48,000 units, respectively. Assume the fixed overhead per unit was $.75 for both the beginning and ending inventory. What is net income under absorption costing?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9945340

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