Find the net income using absorption and variable costing

7. Galaxy, Inc., a manufacturer of telescopes, began operations on June 1 of the current year. During this time, the company produced 60000 units and sold 40000 units at a sales price of 5600 per unit. Cost information for this year is shown in the following table. Production costs Direct materials Direct labor Variable overhead Fixed overhead Non-production costs Vriable selling and administrative 80000 in total Fixed selling and administrative 520000 in total 90 per unit 75 per unit 240000 in total 420000 in total Given the Galaxy, Inc. data, what is net income using absorption costing