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Question - 9-22 Absorption versus variable costing. Grunewald Company manufacturers a professional grade
vacuum cleaner and began operations in 2011. For 2011, Grunewald budgeted to produce and sell
20,000 units. The company had no price, spending, or efficiency variances, and writes off production-
volume variance to cost of goods sold. Actual data for 2011 are given as follows:

1Units produced 18,000
2 Units sold 17,500
3 Selling price $ 425

Variable costs:
Manufacturing cost per unit produced
Direct materials $ 30
Direct manufacturing labor 25
Manufacturing overhead 60
Marketing cost per unit sold 45

Fixed costs:
Manufacturing costs $1,100,000
Administrative costs 965,450
Marketing 1,366,400

1. Prepare a 2011 income statem ...Read More

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