ation produces a single product. The company's variable costing income statement for November appears below Columbia Corporation Income Statement For the Month ended November 30 $932,800 sales ($22 per unit) Variable expenses: Variable cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: 593, 600 127,200 720,800 212, 000 Manufacturing selling and administrative 105,180 70, 120 175, 300 S 36, 700 Total fixed expenses Net operating income During November, 35.060 units were manufactured and 8,360 units were in beginning inventory Variable production costs have remained constant on a per unit basis over the past several months The value of the company's inventory on November 30 under absorption costing would be