During its first year of operations, the McCormick Company incurred the following manufacturing costs Direct materials Direct labor Variable overhead Fixed overhead $7 per unit $5 per unit, $6 $253,000 per unit. per year The company produced 23,000 units, and sold 16,500 units, leaving 6,500 units in inventory at year-end. Income calculated under variable costing is determined to be $335,000 How much income is reported under absorption costing