Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Beginning $ 8,400 Ending $ 10,600 Work in process $ 5,900 $ 20,900 $ 71,000 $ 25,600 $ 560,000 $ 89,000 $ 131,000 $108,000 $ 50,000 $228,000 $205,000 Finished goods The company closes out any underapplied or overapplied overhead to Cost of Goods Sold. What was the IS-31894 company's net operating income for last year? $75,800 $48.800 $54,000 $25,800