Ming Company had net income of $767.200 based on variable costing. Beginning and ending inventories were 7,300 units and 4,700 units, respectively. Assume the fixed overhead per unit was $2.50 for both the beginning and ending inventory. What is net income under absorption costing? Answer is not complete When the number of units sold exceeds the number of units produced, net income under absorption costing will be Lower than income using variable costing The difference in income is equal to The number of units subtracted from inventory multiplied by the food overhead per unit Net Income under variable costing 767,200 Fixed overhead per unit Net Income under absorption costing 720.700