Vanstee Corporation manufactures a variety of products. Variable costing net operating income last year was...
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Vanstee Corporation manufactures a variety of products. Variable costing net operating income last year was $75,000 and this year was $89,500. Last year, $44,500 in fixed manufacturing overhead costs were deferred in inventory under absorption costing. This year, $11,750 in fixed manufacturing overhead costs were released from inventory under absorption costing.
What was the absorption costing net operating income last year?
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