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Moore & Taylor Industries makes artificial Christmas trees. The unit costs for producing a tree...

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Accounting

Moore & Taylor Industries makes artificial Christmas trees. The unit costs for producing a tree are:
Direct materials $24
Direct labor $14
Variable overhead $16
Fixed overhead $5
The company also incurs $2 per tree in variable selling and administrative costs and $3,000 in fixed marketing costs.
At the beginning of the year, thecompany had 830 trees in the beginning Finished Goods Inventory. The company produced 2,050 trees during the year. Sales totaled 1,500 trees at a price of $103 per tree.
(a) Based on absorption costing, what was the company's operating income for the year?
Company's operating income
$
(b) Based on variable costing, what was the company's operating income for the year?
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