Loring Company had the following data for the month: 
What is operating income under absorption costing?
Definitions:
Income
Amount of money a person receives, usually through wages or salaries.
Stocks
Shares of ownership in a corporation, representing a claim on part of the corporation's assets and earnings.
Property
Legal rights or interests over physical objects, land, or intellectual creations, entitling the owner to use, sell, or lease them.
Discouraged Worker
A person who has stopped searching for a job because he or she believes that job hunting is futile.
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