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During the current year, Bailey Inc. manufactured 40,000 units

During the current year, Bailey Inc. manufactured 40,000 units and sold 33,000 units of product. The company produces only one product. The selling price per unit is $40.00, with the following cost structure (assuming the company uses absorption costing):Direct materials $3.00 per unitDirect labour $2.50 per unitVariable manufacturing overhead $0.70 per unitFixed manufacturing overhead $70,000.00Selling commission $1.00 per unitWhich of the following amounts is the net income for the year for Bailey Inc.?a.$969,000.00b.$1,024,650.00c.$1,045,400.00d.$1,057,650.00Show calculation!

During the current year, Bailey Inc. manufactured 40,000 units and sold 33,000 units of product. The company produces only one product. The selling price per unit is $40.00, with the following cost structure (assuming the company uses absorption costing):Direct materials $3.00 per unitDirect labour $2.50 per unitVariable manufacturing overhead $0.70 per unitFixed manufacturing overhead $70,000.00Selling commission $1.00 per unitWhich of the following amounts is the net income for the year for Bailey Inc.?a.$969,000.00b.$1,024,650.00c.$1,045,400.00d.$1,057,650.00Show calculation!

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During the current year, Bailey Inc. manufactured 40,000 units and sold 33,000 units of product. The company produces only one product. The selling price per unit is $40.00, with the following cost structure (assuming the company uses absorption costing):Direct materials $3.00 per unitDirect labour $2.50 per unitVariable manufacturing overhead $0.70 per unitFixed manufacturing overhead $70,000.00Selling commission $1.00 per unitWhich of the following amounts is the net income for the year for Bailey Inc.?a.$969,000.00b.$1,024,650.00c.$1,045,400.00d.$1,057,650.00Show calculation!

During the current year, Bailey Inc. manufactured 40,000 units and sold 33,000 units of product. The company produces only one product. The selling price per unit is $40.00, with the following cost structure (assuming the company uses absorption costing):Direct materials $3.00 per unitDirect labour $2.50 per unitVariable manufacturing overhead $0.70 per unitFixed manufacturing overhead $70,000.00Selling commission $1.00 per unitWhich of the following amounts is the net income for the year for Bailey Inc.?a.$969,000.00b.$1,024,650.00c.$1,045,400.00d.$1,057,650.00Show calculation!