Minty Company provides you with the following information: Units in beginning inventory 3,000 Units

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Minty Company provides you with the following information: Units in beginning inventory 3,000 Units produced 15,000 Units Sold 13,000 Units in Ending inventory 5,000 Variable Costs per unit Direct Materials $40 Direct Labor $15 Variable Manufacturing Overhead $12 Variable selling and administrative $10 Total Fixed Costs: Fixed Manufacturing OH $300,000 Fixed selling $450,000 Assume that each unit sells for a price of $200 per unit. Assume the Company uses the ABSORPTION COSTING Method to calculate product costs and prepares a TRADITIONAL INCOME STATEMENT. Provide it's current year GROSS PROFIT. Select one: a. $1,131,000 b. $1,695,000 c. $1,469,000 d. $2,600,000 e. None of the other answers are correct