Burrito-Blast Makes Bean and Cheese Burritos That It Sells to Grocery

Multiple Choice

Burrito-Blast makes bean and cheese burritos that it sells to grocery stores. The burritos sell for $1 each. Burrito-Blast had beginning inventory of $20,000 on June 1 for 80,000 burritos. During June the company produced 500,000 burritos. June production costs are as follows:

- The company's June 30 ending inventory consists of 20,000 burritos. Assuming they use FIFO costing, calculate the June net income using absorption costing?

A) $358,200
B) $379,000
C) $340,400
D) $380,600