Abdi Company, which has only one product, has provided the following data concerning its most recent month of operations:
Selling price ............................................... $81
Units in beginning inventory ..................... 0
Units produced .......................................... 7,300
Units sold .................................................. 7,000
Units in ending inventory .......................... 300
Variable costs per unit:
Direct materials ...................................... $20
Direct labor ............................................. $30
Variable manufacturing overhead .......... $7
Variable selling and administrative ........ $11
Fixed costs:
Fixed manufacturing overhead .............. $65,700
Fixed selling and administrative ............ $21,000
What is the net operating income for the month under absorption costing?