During its first year of operation, the McCormick company incurred the following manufacturing cost: Direct materials, 6 per unit, Direct labor 3 per unit, variable overhead, 5 per unit, And fixed overhead 296,000. The company produced 37,000 units and sold 29,000 units, Leaving 8000 units in inventory at year end. Income calculated under variable costing is determined to be 405,000. how much income is reported under absorption costing?

During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, 56 per unit, Direct labor, $3 per unit, Vari overhead, $5 per unit, and Fixed overhead, $296,000. The company produced 37,000 units, and sold 29,000 units, leaving 8,000 units in inventory at year-end. calculated under variable costing is determined to be $405,000. How much income is reported under absorption costing? Multiple Choice o 0 5469 o 5405,000 o o O sasApoo o O soooo 24 25 Next search o E H 9