Question 26 2.5pts Use the following information for the next 2 questions The following information has been extracted from the financial records of Truman Corporation for its first year of operations: Units produced 10,000 7,000 Units sold Variable costs per unit: $8 Direct material Direct labor 3 Manufacturing overhead 4 S&A Fixed costs: $70,000 Manufacturing overhead S&A 30,000 Based on absorption costing, Truman Corporation's income in its first year of operations will be: $21,000 higher than it would be under variable costing. $70,000 higher than it would be under variable costing. $30,000 higher than it would be under variable costing. higher than it would be under variable costing, but the exact difference cannot be determined from the information given