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During 2019, Charles Corporation produced 60,000 units and sold 50,000 for $10 per unit

Accounting

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During 2019, Charles Corporation produced 60,000 units and sold 50,000 for $10 per unit. Variable manufacturing costs were $4 per unit. Annual fixed manufacturing overhead was $120,000 ($2 per unit). Variable selling and administrative costs were $1 per unit sold, and fixed selling and administrative costs were $30,000.

REQUIRED:

absorption costing income statement for Charles Corporation