Scavenger Company, a manufacturer of recycling bins, began operations on January 1 of the current year. During this time, the company produced 60,000 units and sold 55,000 units at a sales price of $15 per unit. 

Cost information for this year is shown in the following table:
  Given the Scavenger Company data, what is net income using absorption costing?

Production costs Direct materials Direct labor Variable overhead Fixed overhead Nonproduction costs Variable selling and administrative Fixed selling and administrative $2.50 per unit $3.00 per unit $45.000 in total $240,000 in total $10.000 in total $50,000 in total