Pact Company had net income of $972,000 based on variable costing. Beginning and ending inventories were 7,800 units and 5,200 units, respectively. Assume the fixed overhead per unit was $3.61 for both the beginning and ending inventory. What is net income under absorption costing?
A. $969,400
B. $981,379
C. $962,614
D. $1,018,923
E. $925,077
Answer: C
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