Absorption costing profit
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When opening inventories were 8,500 litres and closing inventories 7,100 litres, William Co had a profit of $61,000 using marginal costing. If the fixed overhead absorption rate was $4 per litre, what was the profit using absorption costing? A. $51,100 B. $55,400 C. $56,500 D. $61,000 |