Reference no: EM132886139
Problem - A business operated at 100% of capacity during its first month, with the following results:
Sales (115 units) $667,000
Production costs (144 units): Direct materials $90,285
Direct labor 23,052
Variable factory overhead 40,340
Fixed factory overhead 38,419 192,096
Operating expenses: Variable operating expenses $5,779
Fixed operating expenses 4,474 10,253
Required - Find the amount of operating income that would be reported on the absorption costing income statement?
a. $666,856
b. $503,337
c. $538,493
d. $534,019
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