1. (Appendix 5A) Sipho Corporation manufactures a variety of products. Last year, the company's variable costing net operating income was $90,900. Fixed manufacturing overhead costs released from inventory under absorption costing amounted to $21,900. What was the absorption costing net operating income last year?

   Answer

   	a.	$112,800
   	b.	$90,900
   	c.	$21,900
   	d.	$69,000