Columbia Corporation 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 Sales ($30 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 $1,200,000 720,000 160,000 880,000 320,000 140,000 35,000 175,000 $ 145,000 During November, 35,000 units were manufactured and 8,000 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 $145,000 profit $125,000 profit $125,000 loss $120,000 profit