During 2022, Steel Corp. produced 45,700 units and sold 42,030 for $15.00 per unit. Variable manufacturing costs were $5.00 per unit. Annual fixed manufacturing overhead was $127,090. Variable selling and administrative costs were $3.00 per unit sold, and fixed selling and administrative expenses were $18,400.

Sales Cost of goods sold Beginning inventory Add : Costs of goods manufactured Goods available for sale Less Fixed costs Gross margin For the Year Ended December 31, 2022 $ 186800 186800 126090 +A 630450 60710 569740 Gross margin Less Operating income Selling and administrative expenses LA $ 569740 58200 511540