Grainger Company produces only one product and sells that product for $100 per unit, Cost information for the product is: Direct Materials Direct Labor Variable Overhead Fixed Overhead $20 per unit $25 per unit 55 per unit $37,000 Selling expenses are $6 per unit and are all variable. Administrative expenses of $20,000 are all fixed. Grainger produced 5,000 units sold 4,000, and had no beginning inventory $ $0 $ $ $ $ A. Compute net income under variable costing (round to the nearest whole dollar) Sales Cost of Goods Sold Beginning Inventory Variable Expenses Direct Materials Direct Labor Variable Overhead Cost of goods available to sell Ending Inventory Variable Cost of Goods Sold Variable Selling Expense Contribution Margin Fixed Expenses Fixed Manufacturing Overhead Fixed Administrative Expenses 5 S 5 $ $ $ $ Net Income