Sanders Company has the following information for last year Selling price Variable production costs Variable selling and admin. expenses Fixed production costs Fixed selling and admin. expenses Units produced $190 per unit $52 per unit produced $18 per unit sold $240,000 $180,000 12,000 Units sold 7,000 There were no beginning inventories. What is the income for Sanders using the variable costing method? o $480,000 o $500,000 O $420,000 O $520,000