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A business operated at 100% of capacity during its first month, with the following results: Sales (107 units) $535,000 Production costs (134 units): Direct materials

A business operated at 100% of capacity during its first month, with the following results: Sales (107 units) $535,000 Production costs (134 units): Direct materials $72,427 Direct labor 18,492 Variable factory overhead 32,361 Fixed factory overhead 30,820 154,100 Operating expenses: Variable operating expenses $5,423 Fixed operating expenses 4,145 9,568 The amount of operating income that would be reported on the absorption costing income statement is a.$534,866 b.$426,992 c.$431,137 d.$402,382

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