Q8.77: A company that sells just one product produced 50,000 units and sold 40,000 units at $100 per unit. The company's variable costs per unit are $30 for variable manufacturing costs and $10 for variable selling and administrative expenses. Fixed manufacturing overhead for the period was $350,000 and fixed selling and administrative expenses were $125,000. If the company had no beginning inventory, what would be their net income before taxes if they were using the absorption costing approach? A $1,925,000 B $1,995,000 $2,325,000 D $1,625,000