Kitichal Corporation manufactures and sells one product. The following Information pertains to the company's first year of operations: Selling price per unit $100 Variable costs per unit: Manufacturing: Direct materials $9 Direct labor $20 Variable manufacturing overhead Variable selling and administrative expense Fixed costs per year. Fixed manufacturing overhead $45,000 Selling and administrative expense $66,400 Production 5,000 units Sales 4,500 units (Q.) What is net operating income under variable costing in the first year? (A) $