Crystal Corporation produces a single product. The company's variable costing income statement for the month of May appears below: Crystal Corporation Income Statement For the month ended May 31 Sales ($18 per unit) $2,745,000 Variable expenses: Variable cost of 1,372,500 goods sold Variable selling 457,500 expense Total variable 1,830,000 expenses Contribution margin 915,000 Fixed expenses : Fixed manufacturing overhead 575,000 Pixed selling and 152,500 administrative Total fixed expenses 727,500 Net operating income $187,500 The company produced 115,000 units in May and the beginning inventory consisted of 75,000 units. Variable production costs per unit and total fixed costs have remained constant over the past several months Under absorption costing, for May the company would report a