Ivanhoe Company sells its product for $28 per unit. During 2022, it produced 27500 units and...

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Ivanhoe Company sells its product for $28 per unit. During 2022, it produced 27500 units and sold 11000 units (there was no beginning inventory). Costs per unit are: direct materials $6, direct labour $5, and variable overhead $4. Fixed costs are: $412500 manufacturing overhead, and $110000 selling and administrative expenses. Cost of goods sold under absorption costing is O $165000. O $330000. O $825000. O $374000. Ivanhoe Company sells its product for $28 per unit. During 2022, it produced 27500 units and sold 11000 units (there was no beginning inventory). Costs per unit are: direct materials $6, direct labour $5, and variable overhead $4. Fixed costs are: $412500 manufacturing overhead, and $110000 selling and administrative expenses. Cost of goods sold under absorption costing is O $165000. O $330000. O $825000. O $374000.