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 25,000 units 15,000 units $ 9 per unit $ 11 per unit $ 3 per unit $ 137,500 in total Belle Company's product is sold for $50 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $170,000 per year. Compute the net income under absorption costing. Multiple Choice $55,000 $205,000 $122,500 $67,500 $80,500