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Indi Corporation produces a single product that it sells for $ 8.9 per unit. During the first year of operations, 105,213 units were produced, and
Indi Corporation produces a single product that it sells for $ | 8.9 | per unit. During the first year of operations, | 105,213 | units | ||||
were produced, and | 106,498 | units were sold. Manufacturing costs and S&A expenses for the year were as following: | ||||||
Fixed Costs | Variable Costs | |||||||
Raw materials | -- | $ 1.99 | per unit produced | |||||
Direct labour | -- | $ 1.46 | per unit produced | |||||
Factory overhead | $ 95,445 | $ 0.58 | per unit produced | |||||
Selling and administrative | $ 58,338 | $ 0.54 | per unit sold | |||||
Required: What was Indi's operating income for the year using absorption costing? Round your answer to the nearest dollar. |
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