12 Crystal Corporation produces a single product. The company's variable costing income statement for the month of May appears below: Crystal Corporation Income Statement For the month ended May 31 Sales ($10 per unit) $900,000 Variable expenses: Variable cost of goods 450,000 sold Variable selling expense 90,000 Total variable expenses 540,000 Contribution margin 360,000 Fixed expenses. Fixed manufacturing overhead 240,000 E Fixed selling and administrative 90,000 Total fixed expenses 330,000 Net operating income $30,000 The company produced 80,000 units in May and the beginning inventory consisted of 25,000 units. Variable production costs per unit and total fixed costs have remained constant over the past several months. Under absorption costing, for May the company would report a