Nimtrans,Inc Calculate the Gross Profit for August Using Absorption Costing

Multiple Choice

Nimtrans,Inc.reports the following information for August: $$\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 800,000 \\\hline \text { Variable Cost of Goods Sold } & 170,000 \\\hline \text { Fixed Cost of Goods Sold } & 70,000 \\\hline \text { Variable Selling and Administrative Costs } & 180,000 \\\hline \text { Fixed Selling and Administrative Costs } & 70,000 \\\hline\end{array}$$ Calculate the gross profit for August using absorption costing.

A) $730,000
B) $620,000
C) $630,000
D) $560,000