Cloudy Corporation has provided the following cost data for last year when 45,000 units were produced and sold:

Raw materials	$180,000
Direct labor	90,000
Manufacturing overhead	180,000
Selling and administrative expense	135,000

All costs are variable except for $90,000 of manufacturing overhead and $90,000 of selling and administrative expense. If the selling price is $12 per unit, the net operating income from producing and selling 108,000 units would be:

Select one:

a. $94,500

b. $414,000

c. $144,000

d. $76,500