Mouse Corp. began operations on January 1, 20X1. The company sells a single product for $60 per unit. During 20X1, 20,000 units were produced and 15,000 were sold. No work-in-process inventories were present on December 31, 20X1. Costs during 20X1 were as follows:

Fixed costs Variable costs

Direct materials 0 5.00 per unit produced

direct labor 0 12.00 per unit produced

manufacturing overhead 44,000 4.00 per unit produced

selling and admin expenses 30,000 2.00 per unit sold

The company computes their fixed manufacturing overhead rate for absorption-costing purposes using an expected production level of 22,000 units. The actual fixed overhead for the year was equal to the budgeted amount.

The income under the absorption-costing approach for Mouse Corp. for the year 20X1 would be _____.

Question options:

	$491,000
	$481,000
	$487,000
	$477,000