Electra Corporation produces a single product. Last year, the company had net operating income of $40,000 using variable costing. Beginning and ending inventories were 22,000 and 23,000 units, respectively. If the fixed manufacturing overhead cost was $3 per unit both last year and this year, What was the income using absorption costing? Multipie Choice $60,000 555,000 537,000 $43,000 $40000