QUESTION 4 Partially correct 24.17 points out of 25.00 Flag question Variable and Absorption Costing-Service...
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QUESTION 4 Partially correct 24.17 points out of 25.00 Flag question Variable and Absorption Costing-Service Company Rocky's Automotive specializes in performing automobile safety checks. After the company's first year of operations, its accountant prepared the following summarized data report for the safety checks for 2016 Sales (7,000 safety checks) Production costs (7,010 safety checks) Direct labor $1,400,000 981,400 Shop overhead Variable 224,320 Fixed 140,200 Operating expenses Variable 42,060 Fixed 32,000 a. Prepare an income statement based on full absorption costing Only use a negative sign with your answer for net income (loss), if the answer represents a net loss. Otherwise, do not use negative signs with any answers. Round answers to the nearest whole number, when applicable
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