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Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year 10,000 units Units

Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.

Units produced this year 10,000 units
Units sold this year 6,000 units
Direct materials $ 10 per unit
Direct labor $ 12 per unit
Variable overhead $ 3 per unit
Fixed overhead $ 40,000 in total

Belle Company's product is sold for $80 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $180,000 per year. Compute the net income under absorption costing.

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