Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: $858,000 Columbia Corporation Income Statement For the Month ended November 30 Sales ($20 per unit) Variable expenses: Variable cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: Manufacturing Selling and administrative Total fixed expenses Net operating income 514,800 128,700 643,500 214,500 105,870 70,580 176,450 $ 38,050 During November, 35,290 units were manufactured and 8,290 units were in beginning inventory. Variable production costs per unit, total fixed manufacturing expenses, and the number of units produced were the same in prior months. Under absorption costing, for November the company would report a: Multiple Choice $15,220 profit $70,580 profit $15,220 loss O $38,050 profit