Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year 105,000 units Units sold this year 63,000 units Direct materials $ 29 per unit Direct labor $ 31 per unit Variable overhead $ 3 per unit Fixed overhead $ 918,750 in total Belle Company's product is sold for $89 per unit a Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $370,000 per year. Compute the net income under variable costing.

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.