Bryans Corporation has provided the following data for its two most recent years of operation: Selling price per unit$53Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials$13Direct labor$6Variable manufacturing overhead$5Fixed manufacturing overhead per year$63,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold$4Fixed selling and administrative expense per year$71,000 Year 1 Year 2Units in beginning inventory0 3,000Units produced during the year9,000 7,000Units sold during the year6,000 7,000Units in ending inventory3,000 3,000The net operating income (loss) under variable costing in Year 1 is closest to:
A. $150,000
B. $174,000
C. $16,000
D. $37,000
Answer: C
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Indicate whether the statement is true or false