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Indiana Corporation produces a single product that it sells for $9 per unit. During the first year of operations,110,016 units were produced, and 103,539 units
Indiana Corporation produces a single product that it sells for $9 per unit. During the first year of operations,110,016 units were produced, and 103,539 units were sold. Manufacturing costs and S&A expenses for the year were as following:
Fixed Costs | Variable Costs | |||||||
Raw materials | -- | $ 1.93 | per unit produced | |||||
Direct labour | -- | $ 1.46 | per unit produced | |||||
Factory overhead | $ 97,087 | $ 0.66 | per unit produced | |||||
Selling and administrative | $ 66,735 | $ 0.58 | 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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