Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Columbia Corporation Income Statement For the Month ended November 30 Sales ($16 per unit) $ 665,600 Variable expenses: Variable cost of goods sold 332,800 Variable selling expense 124,800 Total variable expenses 457,600 Contribution margin 208,000 Fixed expenses: Manufacturing 106,950 Selling and administrative 71,300 Total fixed expenses 178,250 Net operating income $ 29,750 During November, 35,650 units were manufactured and 8,710 units were in beginning inventory. Variable production costs per unit, total fixed manufacturing expenses, and the number of units produced were the same in prior months. Under absorption costing, for November the company would report a: Multiple Choice O O $71,300 profit $11,900 loss O O $29,750 profit $11,900 profit