Company X applies manufacturing overhead based on the number of machine hours. For the current period, the company calculated the predetermined overhead rate to be $6 per machine hour. During the current period the company started and finished one job: JOB-123. This job used a total of 5.000 machine hours and incurred the following costs: direct materials $14.000, and direct labor $16,000. The actual manufacturing overhead incurred during the period was $35.000. There was no beginning or ending inventories in the work in process and the finished goods inventory accounts. Assume that company X disposes off any underapplied or overapplied manufacturing overhead directly to cost of goods sold. Assume further that Company X made total sales of $120.000 and incurred selling and administrative expenses of $30.000. Calculate the net operating income for the period (5) 7 a 30.000 b. 25,000 60,000 d. None of the given answers e. 90.000