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Lamopole Inc. sells its products for $95 each. The current production level is 90,000 units,...

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Accounting

Lamopole Inc. sells its products for $95 each. The current production level is 90,000 units, although only 57,000 units are anticipated to be sold. The following information was presented by the company in 2020:

Unit manufacturing costs are:
Direct materials $7
Direct manufacturing labor $9
Variable manufacturing costs $15

Total fixed manufacturing costs

 $378,000
Marketing expenses $12 per unit
Marketing expenses $115,000 per year

Required:

Using the information, prepare an income statement using absorption costing. What is Lamopole Inc.'s operating income (loss) for 2020?

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