Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year Units sold this year Direct materials Direct labor Variable overhead Fixed overhead 40,000 units 24,000 units $ 16 per unit $ 18 per unit $ 3 per unit $ 220,000 in total Belle Company's product is sold for $63 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $240,000 per year. Compute the net income under absorption costing. Multiple Choice $165,760 $229,200 $64,000 $69,200 $204,000