Montrose Fitness Equipment produces a dumbbell set with a selling price of $1,000 per set. The costs to produce each set include: direct materials, $400; direct labor, $100; and variable manufacturing overhead, $100. The fixed manufacturing overhead per year is $12,000. There is no beginning inventory. If Montrose produces 250 sets and se 's 210 sets, and income under variable costing is $42,500, how much is income under absorption costing? $44,788$6,500$44,420$48,788$40,580