During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $4 per unit, Direct labor, $3 per unit, Variable overhead, $3 per unit, and Fixed overhead, $34 000. The company pr duced 38.000 units, and sold 29.50 units leaving 8 00 units in inventory at yea end ncome calculated under aria le costing S determined to be n much-incomes reported under absorption costing? Multiple Choice $486,500 $752000