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Krepps Corporation produces a single product. Last year, Krepps manufactured 34,080 units and sold 28,200...

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Accounting

Krepps Corporation produces a single product. Last year, Krepps manufactured 34,080 units and sold 28,200 units. Production costs for the year were as follows:

Direct materials $ 259,008
Direct labor $ 153,360
Variable manufacturing overhead $ 269,232
Fixed manufacturing overhead $ 443,040

Sales totaled $1,494,600 for the year, variable selling and administrative expenses totaled $163,560, and fixed selling and administrative expenses totaled $224,928. There was no beginning inventory. Assume that direct labor is a variable cost.

Under variable costing, the company's net operating income for the year would be:

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