1 . (suggested time 4 minutes, 3 marks) Assuming that Donald Industries is in its first year of production, the following reflects select company data for the period Units Units produced 16,000 Units sold 14,000 Unit price $800 11 Variable unit costs Direct materials Direct labour Variable manufacturing overhead Variable selling & administrative $240 $280 $100 $40 Fixed costs Fixed manufacturing overhead Fixed selling & administrative $340,000 $600,000 The auditors are coming tomorrow so the company calculates its absorption net income as $100,000. What is its variable net income