X 13) 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 VARIABLE COSTS Direct materials... -O- $5.00 per unit produced Direct labor... -0- $12.00 per unit produced Manufacturing overhead $44,000 $ 4.00 per unit produced Selling and administrative 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 variable-costing approach for Mouse Corp. for the year 20X1 would be 0/6.66 Points $491,000 $477,000 $481,000 $487,000