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A business operated at 100% of capacity during its first month, with the following results: Sales (114 units) $672,600 Production costs (143 units): Direct materials

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A business operated at 100% of capacity during its first month, with the following results: Sales (114 units) $672,600 Production costs (143 units): Direct materials $91,204 Direct labor 23,286 Variable factory overhead 40,751 Fixed factory overhead 38,810 194,051 Operating expenses: Variable operating expenses $5,667 Fixed operating expenses 4,318 9,985 The amount of gross profit that would be reported on the absorption costing income statement is Oa. $507,917 Ob. $517.902 Oc. $512,235 Od. $672,457

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