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ABC Company is producing and selling Product X. Company management anticipates that a 70% learning...

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ABC Company is producing and selling Product X. Company management anticipates that a 70% learning curve will apply to the production of a new item. The cost of first item is $1,500 in materials. First item will take 500 labor hours. The cost per labor hour is $4 per hour. Variable overheads are 130% of labor costs. ABC Company has a profit mark-up for its products in amount of 20% What is the total profit for the first four units of Product X? $15,016 $3.0032 $2,874.3 $18,019 2

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