Required information [The following information applies to the questions displayed below.) Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year Units sold this year Direct materials Direct labor Variable overhead Fixed overhead 31,000 units 18,600 units $ 15 per unit $ 17 per unit $ 93,000 in total $155,000 In total Given Advanced Company's data, and the knowledge that the product is sold for $62 per unit and operating expenses are $260,000 compute the net income under variable costing