C) $575,000 D) $650,000 12. NEIU Company has no beginning and ending inventories, and reports the following data about its only product: Direct materials used $350,000 Direct labor $175,000 Fixed indirect manufacturing $150,000 Fixed selling and administrative $125,000 Variable indirect manufacturing $100,000 Variable selling and administrative $75,000 Selling price(per unit) $100 Units produced and sold 20,000 NEIU Company uses the full absorption approach to prepare the income statement. What is the gross profit? A) $750,000 B) $1,000,000 C) $1,150,000 D) $1,225,000 13. Differential cost is the difference in _ between two alternatives. G 3 0 x N] p