Question - Last month, Brand Products manufactured 25,000 calculators and sold 22,000 of these calculators at a price of $10.00 each. Manufacturing costs consisted of direct labor, $30,000; direct materials, $32,000; variable manufacturing overhead, $3,500; fixed manufacturing overhead, $21,500. Selling and administrative costs are all fixed and totaled $24,000. Beginning inventory consists of no units. What is Brand Products' net income using variable costing?
A. $109,000
B. $162,360
C. $119,440
D. $116,860