Danahy Corporation manufactures a single product. The following data pertain to the company's operations over the last two years:
Variable costing net operating income, last year $ 52,000
Variable costing net operating income, this year $ 68,000
Fixed manufacturing overhead costs released from inventory under absorption costing, last year $ 4,000
Fixed manufacturing overhead costs deferred in inventory under absorption costing, this year $ 6,000
What was the absorption costing net operating income this year?
Multiple Choice
$62,000
$74,000
$70,000
$66,000
