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During the most recent year, Osterman Company had the following data: Units in beginning inventory...

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Accounting

During the most recent year, Osterman Company had the following data: Units in beginning inventory ---

Units produced 10,250 Units sold ($49 per unit) 9,050 Variable costs per unit: Direct materials $8 Direct labor $5 Variable overhead $3 Fixed costs: Fixed overhead per unit produced $5 Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. 2. Prepare an income statement using absorption costing.

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